Legal Dictionary

Equity

Equity refers to a branch of law that focuses on fairness and justice, particularly in relation to the distribution of property and resources. It is a legal concept that seeks to provide remedies when the application of strict legal rules would result in an unjust outcome.

Frequently Asked Questions

What is the difference between equity and law?

Equity and law are two distinct branches of the legal system. While law is based on statutes and legal principles, equity is concerned with fairness and justice. While law provides a set of rules that must be followed, equity allows for flexibility and discretion in order to achieve a just outcome.

What are some examples of equitable remedies?

Equitable remedies are remedies that are granted by a court in order to provide fairness and justice. Some examples of equitable remedies include injunctions, specific performance, and rescission. Injunctions are court orders that require a party to do or refrain from doing a certain action. Specific performance is a remedy that requires a party to fulfill their contractual obligations. Rescission is the cancellation of a contract.
The 2023 Legal Trends Report

The 2023 Legal Trends Report

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