20th September 2018

thefreedictionary
13

What is an equitable compensation?

equitable compensation. the remedy by which equity awarded a money sum to a claimant, similar in some respects to damages at common law.

People also ask, what is an example of an equitable remedy?

Specific performance requires a party to perform a contract, for example by transferring a piece of land to the claimant. For instance, when damages for a breach of contract found in favour of a third party are an inadequate remedy. (ii) No bars to equitable relief prevent specific performance.

What is the meaning of equitable relief?

Definition from Nolo's Plain-English Law Dictionary. When a court awards a nonmonetary judgment, such as an order to do something (mandamus or specific performance) or refrain from doing something (injunction), when monetary damages are not sufficient to repair the injury.

How are damages different than equitable remedies?

Equitable remedies are related to fairness, as opposed to the actual monetary damages suffered as the result of a breach. One common type of equitable remedy used when the goods are unique is called "specific performance" -- a court order requiring the nonperforming party to carry out the exact terms of the contract.
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