EQUITY

noun (plural -ties) Etymology: Middle English equite, from Anglo-French equité, from Latin aequitat-, aequitas, from aequus equal, fair Date: 14th century 1. justice according to natural law or right, something that is equitable, 2. a system of law originating in the English chancery and comprising a settled and formal body of legal and procedural rules and doctrines that supplement, aid, or override common and statute law and are designed to protect rights and enforce duties fixed by substantive law, trial or remedial justice under or by the rules and doctrines of ~, a body of legal doctrines and rules developed to enlarge, supplement, or override a narrow rigid system of law, 3. a right, claim, or interest existing or valid in ~, the money value of a property or of an interest in a property in excess of claims or liens against it, a risk interest or ownership right in property, the common stock of a corporation