Paralegal Advanced Competency Exam (PACE) Practice Exam

Which phrase encapsulates a key principle of equity?

1. Justice delayed is justice denied

2. Equity will not suffer a wrong to be without a remedy

3. A contract must be enforced strictly

4. All legal agreements must be written

The correct answer is: Equity will not suffer a wrong to be without a remedy

The phrase "Equity will not suffer a wrong to be without a remedy" encapsulates a fundamental principle of equity, which emphasizes that courts should provide relief in situations where a legal remedy is insufficient or unavailable. This principle is rooted in the idea that fairness and justice should prevail in cases where strict adherence to legal statutes fails to address a wrong or an injustice. Equity seeks to ensure that individuals have recourse to resolution even when the law may not explicitly provide one, thus promoting fairness and moral correctness in legal outcomes. It recognizes that legal rights alone may not always equate to just outcomes and aims to fill the gaps where the law may be inadequate. In contrast, the other phrases, while they touch upon important legal concepts, do not capture the essence of equity as clearly. The statement concerning justice being delayed highlights the importance of timely justice rather than equitable remedies specifically. The phrase about enforcing contracts strictly relates more to contract law and the expectation of adherence to terms than to the principles of equity. Lastly, the notion that all legal agreements must be in writing reflects statutory requirements and formalities rather than an equitable principle.