equity

noun equities · æquity · equitie

1. countable, uncountable Fairness, impartiality, or justice as determined in light of "natural law" or "natural right". Sufficeth what they in their graue wiſedoomes ſhall proſcribe, I in no ſorte will ſeeke to acquite, nor preſumptuouſly attempte to diſpute againſt the equity of their iudgementes, but humble and proſtrate appeale to their mercies.

   Opposite: inequity, iniquity

2. countable, uncountable The power of a court of law having extra-statutory discretion, to decide legal matters and to provide legal relief apart from, though not in violation of, the prevailing legal code; in some cases, a court "sitting in equity" may provide relief to a complainant should the code be found either inapplicable or insufficient to do so. 1800, Lloyd Kenyon, 1st Baron Kenyon in Mayor, &c. of Southampton v. Graves (1800), 8 T. R. 592. A Court of equity knows its own province.
3. countable, uncountable A right which accrues to a party in a transaction because of the nature of the transaction itself, and which is exercisable upon a change of circumstances or conditions; in other words, an equitable claim. ...the mortgagor retains ‘equitable title’ or the ‘equity of redemption’….The equity of redemption permits the mortgagor to regain legal title to the mortgaged property upon satisfying the conditions of the mortgage...
4. England, countable, uncountable The body of law which was developed in the English Court of Chancery, which Court had extra-statutory discretion, and is now administered alongside the common law of Britain.
5. countable, uncountable Value of property minus liens or other encumbrances. I have a lot of equity in my house.
6. countable, uncountable Ownership, especially in terms of net monetary value of some business. Private-equity nabobs bristle at being dubbed mere financiers. Piling debt onto companies’ balance-sheets is only a small part of what leveraged buy-outs are about, they insist. Improving the workings of the businesses they take over is just as core to their calling, if not more so. Much of their pl
7. countable, uncountable Ownership interest in a company as determined by subtracting liabilities from assets.
8. countable, uncountable A player's expected share of the pot.
9. countable, nonstandard, uncountable Equality What steps the Government are taking to help ensure equity of opportunity for people from low-income families.