ABSTRACT
This chapter explains how the ideas of conscience and unconscionability work in equity and trusts law. Equity creates a means by which private law can achieve fair outcomes in individual cases. It can recognise human beings as valuable individuals, and not simply as chess pieces against which abstract rules are enforced. It is only through equity that one can extricate the human being from the impersonal machinery of the legal system. Equity comes to assist the common law by creating a primary trust and a secondary trust. The Quistclose trust is a device which continues to vex the commentariat on trusts law. Only a negligently drafted loan contract would fail to specify what type of trust and beneficial interest is created for the lender. The most satisfying explanation of the sort of trust is the one which Lord Wilberforce gave: equity is moulding an appropriate remedy in a circumstance to support the common law concepts governing debts and loan contracts.
