Authorised by Academic Registrar, April 1996
Objectives On completion of this subject students should (1) have an awareness of the anti-formalist trend in the modern law; (2) have a reinforced understanding of the mechanisms of equity in commercial litigation; (3) be better able to advise clients on and engage in legal argument in relation to relevant equitable intervention; and (4) be able to critically analyse and discuss the policy justifications of equitable intervention in commerce.
Synopsis Anti-formalism and jurisprudence of the Uniform Commercial Code in the United States; the importance of equity as an Australian vehicle for the rise of principles and standards; the infiltration of commerce with equitable doctrine; fiduciary relationships and the commercial significance of trusting; estoppel and detrimental reliance; unconscionability standards and a conspectus of their application at general law and under statute; substantive unfairness including penalties, forfeiture and unjust enrichment; equity and tripartite situations; equity in the resolution of disputes between an insolvent's creditors; knowing receipt and assistance as species of third party liability; problem areas such as entitlements to superannuation fund surpluses, preservation of commercial secrecy and the enforcement of finance guarantees against spouses.
Assessment Compulsory class paper and class participation: 20% + Written research assignment (3000 words): 30% + Final examination (2.5 hours): 50%.