IN EQUITY Meaning and
Definition
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In equity refers to a principle of fairness and justice that is applied in legal proceedings, particularly in the context of the court of equity, also known as the court of chancery. It is a branch of law that provides remedies and resolutions when common law does not offer a satisfactory solution.
In equity, the objective is to ensure the fair distribution of rights and resources, where the court considers the unique circumstances of each case and seeks to provide a just outcome. This is in contrast to the strict application of legal rules and principles in the court of law.
Equity allows for flexibility and discretion on the part of the judge, who can apply equitable principles to achieve fairness, even if it means overriding or modifying existing legal rules. These principles are guided by notions of fairness, good faith, and conscience, with the aim of preventing unjust enrichment and avoiding unjust outcomes.
Common examples of cases handled in equity include disputes over property rights, trusts, partnerships, and family law matters. In these cases, the court may issue injunctions, specific performance orders, or monetary awards in order to restore balance and equity.
Overall, "in equity" refers to the application of equitable principles that promote fairness and just outcomes when legal rules alone may not suffice. It is a crucial aspect of the judicial system that seeks to remedy legal deficiencies and uphold justice in difficult or unique circumstances.
Common Misspellings for IN EQUITY
- jn equity
- kn equity
- on equity
- 9n equity
- 8n equity
- ib equity
- im equity
- ij equity
- ih equity
- in wquity
- in squity
- in dquity
- in rquity
- in 4quity
- in 3quity
- in e1uity
- in e2uity
- in ewuity
- in eauity
- in eqyity
Etymology of IN EQUITY
The word "equity" originated from the Latin word "aequitas", which means fairness, justice, or equality. It can be traced back to the Latin root "aequus", meaning equal or even. In Roman law, "aequitas" referred to a concept of fairness and just treatment.
The phrase "in equity" is derived from the development of the English legal system, specifically the Court of Chancery, which operated separately from the common law courts. In the early days of English law, the common law courts focused predominantly on rigid rules and legal remedies, often failing to provide relief in situations where the strict application of law would lead to unfair or unjust outcomes.
To address such concerns, a separate court known as the Court of Chancery was established, where the Chancellor, an ecclesiastical official, presided.
Similar spelling words for IN EQUITY
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