Definitions of equity

  1. the ownership interest of shareholders in a corporation
  2. Equality of rights; natural justice or right; the giving, or desiring to give, to each man his due, according to reason, and the law of God to man; fairness in determination of conflicting claims; impartiality.
  3. An equitable claim; an equity of redemption; as, an equity to a settlement, or wife's equity, etc.
  4. A system of jurisprudence, supplemental to law, properly so called, and complemental of it.
  5. Justice; just regard to right or claim; impartiality.
  6. Justice; impartiality; the giving or desiring to give to each man his due. " With righteousness shall he judge the world, and the people with equity."- Ps. xcviii. 9: in law, an equitable claim. " I consider the wife's equity to be too well settled to be shaken."- Kent: a term about which, when applied to a scheme of jurisprudence, there is some confusion. Its three leading senses are distinguished thus; ( a) taken broadly, equity means the doing unto all men as we would that they should do unto us; ( b) in a narrower sense, equity is used in contradistinction to strict law; it expounds and limits the language of the positive laws, and construes them, not according to their strict letter, but rather in their reasonable and benignant spirit; ( c) in the sense in which it is to be understood as the substantial justice expounded by all courts of equity, it is the system of supplemental law administered in these, founded upon defined rules, recorded precedents, and established principles, the judges, however, liberally expounding and developing them to meet new exigencies. While it aims to assist the defects of the common law, by extending relief to those rights of property which the strict law does not recognize, and by giving more ample and distributive redress than the ordinary tribunals afford, equity by no means either controls, mitigates, or supersedes the common law, but rather guides itself by its analogies, and does not assume any power to subvert its doctrines. The Court of Chancery was formerly in England the especial court of equity, but large powers were by the Judicature Act of 1873 given to all the divisions of the Supreme Court to administer equity, although many matters of equitable jurisdiction are still left to the chancery division in the first instance. In the U. S. the circuit and county courts have original jurisdiction in most chancery or equity cases, wherein remedies and reliefs are sought which the rigid enforcement of the statutes, in civil cases, would preclude. " Equity is a roguish thing; for law, we have a measure, know what to trust to: equity is according to the conscience of him that is chancellor, and, as that is larger or narrower, so is equity."- Selden.
  7. Equitable.
  8. Fairness; impartiality; equal justice.
  9. What is right in the eye of justice; justice; the correction of law, when too severe or defective by considerations of justice; the extension of the words of the law to cases not expressed, yet coming within the reason of the law. Equity of redemption, the advantage, allowed to a mortgager, of a reasonable time to redeem lands mortgaged.