Equity

Equity is the name given to a part of the legal system, in those countries following the English common law tradition, that resolves disputes between persons by resort to principles of conscience, fairness and justness. Equity comes into play typically when none of the parties to the dispute has done anything against the law, but their rights or claims are in conflict. Thus, it is to be contrasted with "law," which is the legal principles from the common law, the laws enacted by governments, and the "case law" (the principles set forth in courts' opinions deciding cases).

Related Topics:
Common law - Case law

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