What is the test for equity to determine that no unfair advantage has been obtained in a transaction?
New Brunswick, Canada
The following excerpt is from Xceed Mortgage Corp. et al vs. Matte, 2014 NBQB 98 (CanLII):
[43] In Central Trust Company v. Ashdale et al. 60 N.S.R. (2d) 414 (C.A.) Justice Hart writes at p. 424: A review of the English jurisprudence reveals that equity has always looked behind the procedure followed to determine that no unfair advantage is obtained by any party to the transaction.
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