Remedies
In common law countries there are a variety of remedies that can be imposed when the court is satisfied that an equitable tracing claim has been made. The principal remedies are:
- an election to take the property (or a resulting trust)
- an equitable charge over the property
- an account of profits, secured by an equitable lien
- a constructive trust
If an asset appreciates in value, the claimant may be well advised to claim proprietary right in the asset (no.1 and 4). If an asset depreciates in value, the claimant would be better off if he acquires a charge or lien over the asset (no. 2 and 3) as he can still enforce the whole amount of the charge against the asset and recover the balance via a personal action.
Read more about this topic: Tracing (law)
Famous quotes containing the word remedies:
“Tenderly apply to her
Some remedies for life.”
—William Shakespeare (1564–1616)
“Our remedies oft in ourselves do lie,
Which we ascribe to heaven.”
—William Shakespeare (1564–1616)
“Our remedies oft in ourselves do lie,
Which we ascribe to heaven. The fated sky
Gives us free scope, only doth backward pull
Our slow designs when we ourselves are dull.”
—William Shakespeare (1564–1616)