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you are here: > Canonum De Ius Positivum
> Article 224
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VII. Law |
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| 7.2 Principles of Law | ||
| Article 224-Equity | ||
| Canon 2768 | ||
| Equity is the principle of being equal or fair, impartial and even handed in the adjudication of matters before the Law, despite one party holding lower rights. Hence, Equity is also used as a term to recognize the “lowest” form of ownership or “equitable title” over property. | ||
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| Canon 2769 | ||
| In regards to property, Equity denotes the lowest form of ownership as a tenant and lessee. | ||
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| Canon 2770 | ||
| Accruing Equity does not mean increasing a claim or share of ownership. The acquiring of Equity is merely the acquiring of uses under tenancy, not ownership under legal title. | ||
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| Canon 2771 | ||
| Any claim that increased Equity is equivalent to increased claim or share of ownership is a deliberate and misleading fraud. If such a fraud was used as the basis of securing any agreement, then such an agreement is null and void from the beginning. | ||
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| Canon 2772 | ||
| To claim Equity is to claim the lowest rights of ownership, not the highest. Therefore, ownership of equity is the last party to be paid in any liquidation of an estate, only if assets remain. | ||
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| Canon 2773 | ||
| In the adjudication of agreement disputes, the principle of Equity is to consider the merits and facts of the dispute without regard to the implicit higher or lower claims of ownership. Hence, by treating both parties as equal, the principle of equity necessarily seeks to invoke a form of justice of the law. | ||
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| Canon 2774 | ||
| The absence of Equity, in particular courts of Equity, denotes most clearly the absence of Justice. | ||
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| Canon 2775 | ||
| Decisions of Equity do not make the law, but assist in its proper interpretation. | ||
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