The Law and Equity Act touches upon many areas of the law. Of most concern to real estate law is the section that says that "a contract respecting land or a disposition of land is not enforceable unless there is, in a writing signed by the party to be charged or by his agent, both an indication that it has been made and a reasonable indication of the subject matter or the party to be charged has done an act ... that indicates that a contract or disposition not inconsistent with that alleged has been made." The Act goes on to say that "a writing can be sufficient ... even though a term is left out or is wrongly stated."

The Law and Equity Act also sets out most of the rules which govern foreclosures and redemption.