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Nov 21, 2023 · Equity is a branch of law that supplements and, in certain cases, overrides the strict rules of common law to ensure justice and fairness are achieved in individual cases.
Jul 1, 2024 · equity, in Anglo- American law, the custom of courts outside the common law or coded law. Equity provided remedies in situations in which precedent or statutory law might not apply or be equitable.
In the field of jurisprudence, equity is the particular body of law, developed in the English Court of Chancery, with the general purpose of providing legal remedies for cases wherein the common law is inflexible and cannot fairly resolve the disputed legal matter.
Sep 2, 2016 · Equity can be broadly described as being just or fair, whereas the legal meaning of the term equity refers to the rules determined to mitigate the severity of the common law rules and those issues that are not be covered under the common law jurisdiction.
In law, the term "equity" refers to a particular set of remedies and associated procedures involved with civil law. These equitable doctrines and procedures are distinguished from "legal" ones. While legal remedies typically involve monetary damages, equitable relief typically refers to injunctions, specific performance, or vacatur.
Equity is both a different system of law which recognizes rights and obligations that the common law does not, and a system which seeks to address the inherent gaps which can exist in following any set of rules.
On one side there is Common law, such as the law made by the judges in the Common Law courts. On the other side there is Equity, the law made by the judges in the Chancery courts. A clear understanding of the origins of Equity is essential in order to comprehend the principles on which it is based and the way those are applied.
