Court of Chancery in the context of "Westminster Hall"

A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (legal person or group of persons). Typically, a fiduciary prudently takes care of money or other assets for another person. One party, for example, a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to another party, who, for example, has entrusted funds to the fiduciary for safekeeping or investment. Likewise, financial advisers, financial planners, and asset managers, including managers of pension plans, endowments, and other tax-exempt assets, are considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice, or protection is sought in some matter. In such a relation, good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trusts.

Fiduciary duties in a financial sense exist to ensure that those who manage other people's money act in their beneficiaries' interests, rather than serving their own interests.

Equitable remedies are judicial remedies developed by courts of equity from about the time of Henry VIII to provide more flexible responses to changing social conditions than was possible in precedent-based common law.

Equitable remedies were granted by the Court of Chancery in England, and remain available today in most common law jurisdictions. In many jurisdictions, legal and equitable remedies have been merged and a single court can issue either, or both, remedies. Despite widespread judicial merger, the distinction between equitable and legal remedies remains relevant in a number of significant instances. Notably, the United States Constitution's Seventh Amendment preserves the right to a jury trial in civil cases over $20 to cases "at common law".

Duke of St Albans is a title in the Peerage of England. It was created in 1684 for Charles Beauclerk, 1st Earl of Burford, then 14 years old. King Charles II had accepted that Burford was his illegitimate son by Nell Gwyn, an actress, and awarded him the dukedom just as he had conferred those of Monmouth, Southampton, Grafton, Northumberland, and Richmond and Lennox on his other illegitimate sons who married.

The subsidiary titles of the Duke are Earl of Burford, in the County of Oxford (1676), Baron Heddington, in the same (1676) and Baron Vere, of Hanworth in the County of Middlesex (1750). The Earldom and the Barony of Heddington are in the Peerage of England, and the Barony of Vere is in the Peerage of Great Britain. The dukes hold the hereditary title of Grand Falconer of England, and until the end of the 18th century they were Hereditary Registrars of the Court of Chancery.

English trust law concerns the protection of assets, usually when they are held by one party for another's benefit. Trusts were a creation of the English law of property and obligations, and share a subsequent history with countries across the Commonwealth and the United States. Trusts developed when claimants in property disputes were dissatisfied with the common law courts and petitioned the King for a just and equitable result. On the King's behalf, the Lord Chancellor developed a parallel justice system in the Court of Chancery, commonly referred as equity. Historically, trusts have mostly been used where people have left money in a will, or created family settlements, charities, or some types of business venture. After the Judicature Act 1873, England's courts of equity and common law were merged, and equitable principles took precedence. Today, trusts play an important role in financial investment, especially in unit trusts and in pension trusts (where trustees and fund managers invest assets for people who wish to save for retirement). Although people are generally free to set the terms of trusts in any way they like, there is a growing body of legislation to protect beneficiaries or regulate the trust relationship, including the Trustee Act 1925, Trustee Investments Act 1961, Recognition of Trusts Act 1987, Financial Services and Markets Act 2000, Trustee Act 2000, Pensions Act 1995, Pensions Act 2004 and Charities Act 2011.

Trusts are usually created by a settlor, who gives assets to one or more trustees who undertake to use the assets for the benefit of beneficiaries. As in contract law no formality is required to make a trust, except where statute demands it (such as when there are transfers of land or shares, or by means of wills). To protect the settlor, English law demands a reasonable degree of certainty that a trust was intended. To be able to enforce the trust's terms, the courts also require reasonable certainty about which assets were entrusted, and which people were meant to be the trust's beneficiaries.

The forms of action were the different procedures by which a legal claim could be made during much of the history of the English common law. Depending on the court, a plaintiff would purchase a writ in Chancery (or file a bill) which would set in motion a series of events eventually leading to a trial in one of the medieval common law courts. Each writ entailed a different set of procedures and remedies which together amounted to the "form of action".

The forms of action were abolished during the 19th century, but they have left an indelible mark on the law. In the early Middle Ages, the focus was on the procedure that was employed to bring one's claim to the royal courts of King's Bench or Common Pleas: it was the form of one's action, not its substance, which occupied legal discussion. This restrictive approach is one of the reasons which attracted litigants to petition the King directly, which eventually led to the development of a separate court known as the Court of Chancery, from which the body of law known as equity derives. Modern English law, as in most other legal systems, now looks to substance rather than to form: a claimant needs only to demonstrate a valid cause of action.

In the field of jurisprudence, equity is the particular body of law, developed in the English Court of Chancery, with the general purpose of providing legal remedies for cases wherein the common law is inflexible and cannot fairly resolve the disputed legal matter. Conceptually, equity was part of the historical origins of the system of common law of England, yet is a field of law separate from common law, because equity has its own unique rules and principles, and was administered by courts of equity.

Equity exists in domestic law, both in civil law and in common law systems, as well as in international law. The tradition of equity begins in antiquity with the writings of Aristotle (epieikeia) and with Roman law (aequitas). Later, in civil law systems, equity was integrated in the legal rules, while in common law systems it became an independent body of law.