An appellate court will not interfere with a lower court's exercise of discretion in dividing matrimonial assets unless it is shown that the court acted on a wrong principle, allowed extraneous or irrelevant matters to guide it, mistook the facts, failed to take into account relevant considerations, or arrived at a decision so unreasonable as to induce a sense of shock. Section 7(4) of the Matrimonial Causes Act requires the court to conduct a holistic and fact-sensitive enquiry, having regard to all circumstances of the case including income-earning capacity, financial resources, needs and obligations, standard of living, age and physical/mental condition, direct and indirect contributions, and duration of marriage, with the objective of achieving substantive fairness and placing the spouses in the position they would have occupied had a normal marriage relationship continued. A court has wide discretion under section 7 to order division, apportionment or distribution of matrimonial assets, including ordering transfer of assets and buy-out options, even where not specifically pleaded by the parties. Where both parties have contributed equally to matrimonial property, an equal division with a buy-out option is a proper exercise of discretion that achieves equity.