Explain the Difference in Approach of Common Law and Equity

question 92

Essay

Explain the difference in approach of common law and equity to a contract that is entered into by a party under a mistake as to identity caused by the fraud or deceit of the other party.

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Definitions:

AASB 16

An accounting standard issued by the Australian Accounting Standards Board specifying the principles for recognition, measurement, presentation, and disclosure of leases.

IFRS 16

The International Financial Reporting Standard issued by the IASB which specifies how an IFRS reporter will recognize, measure, present, and disclose leases.

AASB 16

An accounting standard issued by the Australian Accounting Standards Board that specifies the principles for the recognition, measurement, presentation, and disclosure of leases.

IFRS 16

International Financial Reporting Standard that specifies how leases are recognized, measured, presented, and disclosed in financial statements.