This course comprises of two components, Principles of Equity and Trust. 1. Principles of Equity: In this component the history, nature and principles of equity are examined. The relationship between equity and law is investigated. Equity's function as a corrective devise to the law is emphasised. The course draws on relevant case law to illustrate and demonstrate the relevance and application of the principles of equity in the dispensation of justice. Case law is invoked to demonstrate the adaptability of equity to confront current circumstances. The reception of equity into the "corpus juris" of Papua New Guinea is discussed. 2. Trust: In this component the institution of trust is examined. Trusts are primarily about the preservation of wealth. It is a fiduciary relationship with respect to property, subjecting the person by whom the property is held to equitable duties to deal with the property for the benefit of another person, which arises as a result of a manifestation to create it. Candidates are introduced to the institution of trust, its practical application and the legal principles that govern trusts to a level enabling its application in practice environment.
Contact hours: 4 hours per week.