Main equitable remedies available to an aggrieved party

The main equitable remedies include:
Injunction: this is an order of the court which restrains a person from doing or continuing to do a particular thing or compels him to undo what he has wrongly done. May be temporal or perpetual.
Specific Performance: this is a court order which compels a party to perform its contractual obligations as agreed. It compels a party to honour its part of the contract
without an option to pay damages. Rescission: the essence of this remedy is to restore parties to a contract to the position they were before the contract.
Account: this is generally an exposition of the utilization of money or goods coming into the hands of a person in a specific capacity e.g. agent, trustee or promoter. It entails the handing over of anything obtained in a manner inconsistent with the position e.g. secret profit.
Tracing: this is a court order which enables a party to follow and recover assets or monies which change hands in certain circumstances for example: void contracts. The
remedy is generally available only if the subject matter or its application is identifiable.
Winding Up: is the legal process which a company’s existence is brought to an end, its assets realized, liabilities ascertained and paid and the balance if any distributed
between the members.

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