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Definition of Equity in Real Context with Images

Published on November 8th, 2021 | Last updated on November 8th, 2021 by | Category: 601 Words You Need to Know Flashcards, English Vocabulary in Context | No Comments on Definition of Equity in Real Context with Images | 133 Views | Reading Time: 2 minutes

Definition of Equity as a legal term with illustration and in authentic context with synonyms and antonyms for ESL learners

/ˈek.wɪ.ti/ (noun)

Definition

(legal term) the state of being fair and just or being treated fairly or justly, a system of justice based on fair judgment, fairness, justness, impartiality, egalitarianism

(financial term) the value of a company or property divided into equal parts or shares and owned by the shareholders, the value of a property after the mortgage and other charges have been subtracted from it, worth, ownership, proprietorship 

Example

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. A court will typically award equitable remedies when a legal remedy is insufficient or inadequate. For example, courts will typically award equitable relief for a claim which involves a particular or unique piece of real estate, or if the plaintiff requests specific performance.

Source of Example: https://www.law.cornell.edu/

Antonyms

injustice, inequity

Parts of speech

Adjective: equitable

Adverb: equitably

Noun: equitableness

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