Definition of Equity as a legal term with illustration and in authentic context with synonyms and antonyms for ESL learners
/ˈek.wɪ.ti/ (noun)
Table of Contents
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
