eq|ui|ty

eq|ui|ty «EHK wuh tee», noun, plural -ties.

1. fairness; justice: »

The judge was noted for the equity of his decisions.

SYNONYM(S): impartiality.

2. what is fair and just: »

In all equity, he should pay for the damage he did.

SYNONYM(S): justice, right.

3. a) a system of rules and principles as to what is fair or just. Equity supplements common law and statute law in the United States and the Commonwealth by covering cases in which fairness and justice require a settlement not covered by the common law. In the United States, law and equity are usually administered by the same court. b) a claim or right according to equity. c) fairness in the adjustment of conflicting interests. d) = equity of redemption. (Cf. ↑equity of redemption)

4. a) the amount that a property is worth beyond what is owed on it. b) a share in the ownership of a business; stock: »

Leading industrial equities were fairly firm on selective demand today, although the best prices were not always maintained (New York Times).

╂[< Old French equite, learned borrowing from Latin aequitās < aequus even, just]