Equitable Claims

Many people think that winning a lawsuit means receiving monetary compensation. However, it is only sometimes the case is forwarded. There are two types of claims: legal and equitable. Plaintiffs who bring a legal claim ask the court to award money for loss or injury, known as “damages.” Litigants bring an equitable claim to ask the court for an injunction, a court order compelling a party to do or refrain from doing a specified act.

A legal claim is when a plaintiff explains to the court how the defendant’s actions have caused them to suffer a loss. This could have happened in the past or the future. The goal of the legal claim is for the defendant to compensate the plaintiff and make them “whole.” An equitable claim, on the other hand, is when a plaintiff asks the court for an injunction. This is a court order preventing a future harmful action or providing relief from harm for which an award of monetary damages is not a satisfactory solution or for which an economic value is impossible to calculate. 

Specific performance is a type of equitable relief given by the court to enforce against a defendant the duty of doing what he agreed by contract to do. It is the opposite of damages for breach of contract, which gives pecuniary compensation for failure to carry out the terms of the agreement. Specific performance is a discretionary remedy, usually granted when the standard remedy of damages is inadequate, such as in contracts for transferring immovable property. 

It is important to note that the relief must be specifically claimed. When the plaintiff claims the specific performance of a particular agreement, the suit can only be decreed for that agreement’s exact implementation, not any other. 

The prescribed limitation period for a case of specific performance is three years from the date fixed for performance, or if no such date is set when the plaintiff has noticed that performance has been refused. 

The type of claim determines the kind of relief available for the plaintiff. In legal claims, the plaintiff seeks monetary compensation for loss or injury, while in equitable claims, the plaintiff seeks an injunction to either prompt or stop a particular action or event. It is also essential to understand that specific performance is a type of equitable relief given by the court and must be specifically claimed to be granted.

Legal and equitable claims are complex matters that require the expertise and guidance of a skilled legal professional. At Icon Legal Services, we understand the importance of securing your legal rights and ensuring justice. Our team of experienced lawyers has a proven track record of successfully handling a wide range of legal and equitable claims. Contact us today to learn more about how we can help you navigate the legal system and achieve the best possible outcome for your case.