Dictionary of Law
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equity :: legal definition


Equity - n. 1) a venerable group of rights and procedures to provide fairness, unhampered by the narrow strictures of the old common law or other technical requirements of the law. In essence courts do the fair thing by court orders such as correction of property lines, taking possession of assets, imposing a lien, dividing assets, or injunctive relief (ordering a person to do something) to prevent irreparable damage. The rules of equity arose in England where the strict limitations of common law would not solve all problems, so the King set up courts of chancery (equity) to provide remedies through the royal power. Most eastern states had courts of equity or chancery separate from courts of law, and others had parallel systems of law and equity with different procedural rules. Now most states combine law and equity and treat both under "one cause of action." 2) the net value of real property, determined by subtracting the amount of unpaid debts secured by (against) the property from the appraised value of the property.

See also: chancery enjoin equitable injunction writ and Related Law Terms ↓


Related Law Terms

abuse of discretion :: n. a polite way of saying a trial judge has made s ... partner's realistic ability to pay.
ad valorem :: adj. Latin for "based on value," which applies to ... per parcel. See also: property tax
adequate remedy :: n. a remedy (money or performance) awarded by a co ... es it, giving cause for his arrest.
administrative law :: n. the procedures created by administrative agenci ... judge Administrative Procedure Act
administrator :: n. the person appointed by the court to handle the ... e also: administer executor probate
adoption :: n. the taking of a child into one's family, creati ... the child are met. See also: adopt
adultery :: n. consensual sexual relations when one of the par ... s and grist for scandal newspapers.
adverse possession :: n. a means to acquire title to land through obviou ... o: possession prescriptive easement
advisory opinion :: n. an opinion stated by a judge or a court upon th ... o: actual controversy friendly suit
alimony :: n. support paid by one ex-spouse to the other as o ... ild support divorce spousal support
answer :: n. in law, a written pleading filed by a defendant ... emurrer general denial verification
antitrust laws :: n. acts adopted by Congress to outlaw or restrict ... so: price fixing restraint of trade
appeal :: 1) v. to ask a higher court to reverse the decisio ... ng, as in "he has filed an appeal."
appraise :: v. to professionally evaluate the value of propert ... surance claims. See also: appraiser
appraiser :: n. a professional who makes appraisals of the valu ... isal Institute). See also: appraise
arbitration :: n. a mini-trial, which may be for a lawsuit ready ... tance of the arbitrator's decision.
arrest :: v. 1) to take or hold a suspected criminal with le ... anda warning probable cause warrant
assess :: v. to set a value on property, usually for the pur ... e place upon sale of real property.
asset :: n. generally any item of property that has monetar ... ill and rights to market a product.
attachment :: n. the seizing of money or property prior to getti ... bond. See also: writ of attachment
attorney :: n. 1) an agent or someone authorized to act for an ... ialize. See also: court reciprocity
Attorney General :: n. in each state and the federal government the hi ... izenry. See also: Solicitor General
bailiff :: n. 1) a court official, usually a deputy sheriff, ... isdictional territory of a bailiff.
bank :: n. 1) an officially chartered institution empowere ... erred to as "in bank" or "en banc."
bankruptcy :: n. a federal system of statutes and courts which p ... y proceedings trustee in bankruptcy
bar examination :: n. the examination given in each state by either t ... n that district. See also: attorney
basis :: n. the original cost of an asset to be used to det ... ssistance. See also: adjusted basis
Bill of Rights :: n. the first ten amendments to the federal Constit ... ved to the states or to the people.
book value :: n. a determination of the value of a corporation's ... ssets may be under- or over-valued.
brief :: 1) n. a written legal argument, usually in a forma ... another person. See also: precedent
capital gains :: n. the difference between the sales price and the ... so: basis delayed exchange exchange
carrier :: n. in general, any person or business which transp ... lso: common carrier private carrier
case law :: n. reported decisions of appeals courts and other ... es. See also: case system precedent
chancellor :: n. from the old English legal system, a chancellor ... n the same courts. See also: equity
chancery :: n. a court that can order acts performed. Today ch ... ts in most states. See also: equity
child custody :: n. a court's determination of which parent, relati ... pport custody divorce joint custody
citation :: n. 1) a notice to appear in court due to the proba ... se is not in point." See also: cite
civil :: adj. 1) that part of the law that encompasses busi ... also: civil liberties civil rights
civil law :: n. 1) a body of laws and legal concepts which come ... generic term for non-criminal law.
civil procedure :: n. the complex and often confusing body of rules a ... l civil action civil code civil law
clerk :: n. 1) an official or employee who handles the busi ... stocking shelves, or counter sales.
comity :: n. when one court defers to the jurisdiction of an ... of cases to which comity may apply.
common law :: n. the traditional unwritten law of England, based ... plied without reference to statute.
common property :: n. 1) real property owned by "tenants in common," ... e, like parks and national forests.
community property :: n. property and profits received by a husband and ... and distribution separate property
complaint :: n. the first document filed with the court (actual ... g prayer service of process summons
conclusion of law :: n. a judge's final decision on a question of law w ... aw if requested. See also: judgment
condominium :: n. title to a unit of real property which, in real ... ium projects. See also: common area
conflict of law :: n. a situation in which both state and federal law ... y arose. See also: forum preemption
constable :: n. a law officer for a particular area such as a r ... ice of the Peace. See also: sheriff
constitution :: n. the fundamental, underlying document which esta ... ts common law constitutional rights
constitutional rights :: n. rights given or reserved to the people by the U ... e also: Bill of Rights constitution
consumer protection laws :: n. almost all states and the federal government ha ... rranty product liability securities
contempt of court :: n. there are essentially two types of contempt: a) ... roduce evidence. See also: sanction
controlling law :: n. the laws of the state which will be relied upon ... will be that of a particular state.
corporation :: n. an organization formed with state governmental ... ation public corporation securities
cotenancy :: n. the situation when more than one person has an ... y by the entirety tenancy in common
count :: n. each separate statement in a complaint which st ... also: cause of action common counts
court :: n. 1) the judge, as in "The court rules in favor o ... cost and wait of full court trials.
court of equity :: n. originally in English common law and in several ... also: chancery court of law equity
court of law :: n. any tribunal within a judicial system. Under En ... aw. See also: chancery court equity
court-martial :: 1) n. a military court for trying offenses in viol ... the U.S. Court of Military Appeals.
demurrer :: n. (dee-muhr-ur) a written response to a complaint ... demurrer. See also: motion pleading
depreciation :: n. the actual or theoretical gradual loss of value ... e early years of use (accelerated).
descent :: n. the rules of inheritance established by law in ... on inheritance intestate succession
disbar :: v. to remove an attorney from the list of practici ... legal ethics. (See moral turpitude
discrimination :: n. unequal treatment of persons, for a reason whic ... qual rights. See also: civil rights
divorce :: 1) n. the termination of a marriage by legal actio ... y separate property spousal support
due process of law :: n. a fundamental principle of fairness in all lega ... procedural and substantive rights.
eminent domain :: n. the power of a governmental entity (federal, st ... ngs. See also: condemn condemnation
enjoin :: v. for a court to order that someone either do a s ... so: injunction temporary injunction
equal opportunity :: 1) n. a right supposedly guaranteed by both federa ... be so. See also: affirmative action
equal protection of the law :: n. the right of all persons to have the same acces ... laws." See also: due process of law
error :: n. a mistake by a judge in procedure or in substan ... or. See also: harmless error remand
execution :: n. 1) the act of getting an officer of the court t ... so: death penalty writ of execution
fair comment :: n. a statement of opinion (no matter how ludicrous ... amation libel public figure slander
fair market value :: n. the amount for which property would sell on the ... so: appraise appraiser market value
fair trade laws :: n. state laws which permit manufacturers or produc ... state constitutions in many states.
foreclosure :: n. the system by which a party who has loaned mone ... ced sale mortgage notice of default
forum non conveniens :: (for-uhm nahn cahn-vee-nee-ehns) n. Latin for a fo ... most convenient location for trial.
friendly suit :: n. a lawsuit filed in order to obtain a court orde ... eement in which there was an error.
gag order :: n. a judge's order prohibiting the attorneys and t ... st day in office, January 22, 1993.
garnish :: v. to obtain a court order directing a party holdi ... ed. See also: garnishee garnishment
grand larceny :: n. the crime of theft of another's property (inclu ... f the loot. See also: larceny theft
grandfather clause :: n. 1) a clause in a statute or zoning ordinance (p ... Such laws are now unconstitutional.
guest statute :: n. a state law which sets standards of care by the ... sked to be let out. See also: guest
habeas corpus :: (hay-bee-us core-puss) n. Latin for "you have the ... nality of a state court conviction.
hearsay rule :: n. the basic rule that testimony or documents whic ... interest dying declaration hearsay
incorporate :: v. 1) to obtain an official charter or articles of ... te by reference incorporation stock
indispensable party :: n. a person or entity which must be included in a ... tion to join Olivia as a defendant.
injunction :: n. a writ (order) issued by a court ordering someo ... t. See also: injunctive relief writ
injunctive relief :: n. a court-ordered act or prohibition against an a ... t injunction restraining order writ
insolvency :: n. 1) the condition of having more debts (liabilit ... the property. See also: bankruptcy
insurance :: n. a contract (insurance policy) in which the insu ... t clause Workers' Compensation Acts
international law :: n. treaties between countries; multi-lateral agree ... all nations. See also: World Court
interrogatories :: n. a set of written questions to a party to a laws ... ing. See also: deposition discovery
irreparable damage or injury :: n. the type of harm which no monetary compensation ... also: equity injunction remedy writ
joint tenancy :: n. a crucial relationship in the ownership of real ... ty property tenancy in common title
judge :: 1) n. an official with the authority and responsib ... ice justice of the peace magistrate
judicial sale :: n. a sale of goods by an official (keeper, trustee ... o be sold. See also: sheriff's sale
jurisdiction :: n. the authority given by law to a court to try ca ... Superior Court Supreme Court venue
jury :: n. one of the remarkable innovations of the Englis ... hallenge sequester venire voir dire
justice :: n. 1) fairness. 2) moral rightness. 3) a scheme or ... e appellate courts. See also: court
justice of the peace :: (JP) n. a judge who handles minor legal matters su ... ersons to qualify by taking a test.
law :: n. 1) any system of regulations to govern the cond ... um maritime law natural law statute
law book :: n. any of numerous volumes dealing with law, inclu ... : common law law Shepardize statute
leverage :: 1) n. the use of borrowed money to purchase real e ... e been created by risky leveraging.
limited partnership :: n. a special type of partnership which is very com ... mited liability partner partnership
lis pendens :: (lease pen-dense) n. Latin for "a suit pending," a ... ob can be penalized by court order.
long-arm statute :: n. law which gives a local state court jurisdictio ... rt jurisdiction over the defendant.
mandamus :: (man-dame-us) n. Latin for "we order," a writ (mor ... mandamus. See also: writ of mandate
mandate :: n. 1) any mandatory order or requirement under sta ... See also: mandamus writ of mandate
marital deduction :: n. an estate tax deduction allowed a surviving spo ... community property estate tax trust
market value :: n. the price which a seller of property would rece ... ich are often called "comparables."
marriage :: n. the joining of a male and female in matrimony b ... of time without legal formalities.
marshal :: 1) n. a federal court official who may serve paper ... tablish priorities among creditors.
martial law :: n. a system of complete control by a country's mil ... n and women. See also: military law
merger :: n. 1) in corporate law, the joining together of tw ... and taking one, and wife the other.
modification :: n. a change in an existing court order or judgment ... terms of child support and custody.
moot court :: n. law school exercise in which students argue bot ... fferent law schools. See also: moot
mortgage :: n. a document in which the owner pledges his/her/i ... losure notice of default trust deed
municipal court :: n. a lower court which usually tries criminal misd ... nd/or small claims. See also: court
no fault insurance :: n: a type of automobile insurance required of car ... ling lawsuits. See also: negligence
nominal party :: n. a defendant or a plaintiff included in a lawsui ... ed. See also: necessary party party
non-profit corporation :: n. an organization incorporated under state laws a ... harity corporation cy pres doctrine
notice :: n. 1) information, usually in writing in all legal ... Thirty-day notice three-day notice
nunc pro tunc :: (nuhnk proh tuhnk) adj. Latin for "now for then," ... r actuality of a bigamous marriage.
occupy the field :: v. to preempt (monopolize) an area of statutory la ... ertain topics. See also: preemption
operation of law :: n. a change or transfer which occurs automatically ... atically upon the child turning 18.
opinion :: n. the explanation of a court's judgment. When a t ... which the author is not specified.
order :: 1) n. every direction or mandate of a judge or a c ... defendant. See also: judge judgment
par :: n. 1) an equal level. 2) the face value of a stock ... common stock preferred stock stock
paralegal :: n. a non-lawyer who performs routine tasks requiri ... h less than that for the attorneys.
partition :: n. a lawsuit which one co-owner of real property c ... sell, keep or divide the property.
peremptory writ of mandate :: (or mandamus) n. a final order of a court to any g ... ve writ. See also: mandamus mandate
permanent injunction :: n. a final order of a court that a person or entit ... ary injunction temporary injunction
petition :: 1) n. a formal written request to a court for an o ... dent. See also: divorce motion writ
possession :: n. 1) any article, object, asset or property which ... ctive possession. See also: possess
pour over will :: n. a will of a person who has already executed a t ... invalid trust. See also: trust will
practice :: 1) n. custom or habit as shown by repeated action, ... s "she practices law in St. Louis."
preemption :: n. the rule of law that if the federal government ... cs control may parallel each other.
premises :: n. 1) in real estate, land and the improvements on ... t). See also: real estate structure
presiding judge :: n. 1) in both state and federal appeals court, the ... and chairs meetings of the judges.
privileges and immunities :: n. the fundamental rights that people enjoy in fre ... t impinge on constitutional rights.
procedure :: n. the methods and mechanics of the legal process. ... cases are tried and judgments made.
process :: n. in law, the legal means by which a person is re ... service of process subpena summons
property :: n. anything that is owned by a person or entity. P ... rty real property separate property
property tax :: n. an annual governmental tax on real property or ... are made. See also: ad valorem tax
real property :: n. 1) all land, structures, firmly attached and in ... onal property real estate reversion
record :: 1) v. (ree-cored) to put a document into the offic ... eeding race to the courthouse trial
regulations :: n. rules and administrative codes issued by govern ... es usually have similar procedures.
remedy :: n. the means to achieve justice in any matter in w ... gment provisional remedy settlement
remittitur :: n. 1) a judge's order reducing a judgment awarded ... party on appeal). See also: remand
removal :: n. 1) the change of a legal case from one court to ... a crime or successful impeachment.
rental value :: n. the amount which would be paid for rental of si ... alimony to be paid. See also: rent
reports :: n. the published decisions of appeals courts in al ... ilable in almost all law libraries.
respondent :: n. 1) the party who is required to answer a petiti ... "appellant") in the appeals court.
restraining order :: n. a temporary order of a court to keep conditions ... so: injunction permanent injunction
resulting trust :: n. a trust implied by law (as determined by a cour ... See also: constructive trust trust
retroactive :: adj. referring to a court's decision or a statute ... ospective." See also: ex post facto
reversal :: n. the decision of a court of appeal ruling that t ... e of damages is ordered to dismiss.
ripe :: adj. in constitutional law, referring to a law cas ... or more issues raised by the case.
rogatory letters :: n. a written request by a judge to a judge in anot ... also: deposition testimony witness
rules of court :: n. a set of procedural regulations adopted by cour ... s counsel. See also: procedure rule
sanction :: n. 1) a financial penalty imposed by a judge on a ... ction." See also: contempt of court
sentence :: 1) n. the punishment given to a person convicted o ... ence restitution suspended sentence
separate property :: n. in community property states (California, Texas ... pouse. See also: community property
service of process :: n. the delivery of copies of legal documents such ... by publication substituted service
set aside :: v. to annul or negate a court order or judgment by ... "set aside" the original dismissal.
sheriff :: n. the top law enforcement officer for a county, u ... ." See also: bailiff sheriff's sale
shield laws :: n. statutes enacted in some states which declare t ... See also: privileged communication
shortening time :: n. an order of the court in response to the motion ... e notice is served within 24 hours.
standing :: n. the right to file a lawsuit or file a petition ... so: actual controversy jurisdiction
statute :: n. a federal or state written law enacted by the C ... and proclamations are not statutes.
statute of limitations :: n. a law which sets the maximum period which one c ... ies. See also: demurrer laches toll
substantive law :: n. law which establishes principles and creates an ... are conducted. See also: procedure
summons :: n. a document issued by the court at the time a la ... use service service of process writ
supersedeas :: (sooh-purr-said-ee-uhs) Latin for "you shall desis ... . See also: appeal court of appeals
supra :: (sooh-prah) Latin for "above," in legal briefs and ... d as Guinn v. United States, supra.
supremacy clause :: n. Article VI, section 2 of the U.S. Constitution, ... f involving a constitutional issue.
Supreme Court :: n. 1) the highest court in the United States, whic ... rt in other states. See also: court
tax :: n. a governmental assessment (charge) upon propert ... unified estate and gift tax use tax
temporary injunction :: n. a court order prohibiting an action by a party ... ry injunction. See also: injunction
tenancy by the entirety :: n. joint ownership of title by husband and wife, i ... ee also: community property tenancy
tenancy in common :: n. title to property (usually real property, but i ... on. See also: joint tenancy tenancy
toll :: v. 1) to delay, suspend or hold off the effect of ... bridge or take passage on a ferry.
tort :: n. from French for "wrong," a civil wrong or wrong ... nce slander trespass wrongful death
transcript :: n. the written record of all proceedings, includin ... unless transcription is requested.
trust :: n. an entity created to hold assets for the benefi ... testamentary trust trustee trustor
undivided interest :: n. title to real property held by two or more pers ... y by the entirety tenancy in common
venue :: n. 1) the proper or most convenient location for t ... ion. See also: forum non conveniens
warrant :: 1) n. an order (writ) of a court which directs a l ... e search and seizure search warrant
will :: n. a written document which leaves the estate of t ... will and testament probate testator

Popular Law Searches

legal definition ministerial act :: n. an act, particularly of a governmental employee ... exercising any individual judgment.
chancery legal definition :: n. a court that can order acts performed. Today ch ... ts in most states. See also: equity
testamentary disposition legal definition :: n. how the terms of a will divide the testator's ( ... named beneficiaries. See also: will
contract of sufferance :: n. a "hold-over" tenancy after a lease has expired ... y tenancy at will unlawful detainer
forthwith legal definition :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
forthwith definition legal :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
what is to wit in a legal contract :: prep. that is to say. Example: "the passengers in ... tty Bumgartner and Sherry Younger."
mirror wills legal definition :: n. the wills of a husband and wife which are ident ... d each names the other as executor.
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sine qua non only relates to contract law :: (see-nay kwah nahn) prep. Latin for "without which ... qua non of the injury to Playmate.

Other Law Terms - E

earnest payment :: n. a deposit paid to demonstrate commitment and to ... (liquidated) or committed damages.
easement :: n. the right to use the real property of another f ... rstandings at the time of creation.
egress :: n. way of departure. A word usually used in conjun ... unction with "access" or "ingress."
EIR :: n. popular acronym for environmental impact report ... e also: environmental impact report
ejectment :: n. a lawsuit brought to remove a party who is occu ... o the property through her parents.
ejusdem generis :: (eh-youse-dem generous) v adj. Latin for "of the s ... t was of land-based transportation.
elder law :: n. a specialty in legal practice, covering estate ... t field. (definition revised: 9/02)
election of remedies :: n. an outmoded requirement that if a plaintiff (pa ... dence has not been fully presented.
election under the will :: n. in those states which have statutes which give ... arries) left to her under his will.
eleemosynary :: (eh-luh-moss-uh-nary) adj. charitable, as applied ... pplied to a purpose or institution.
element :: n. 1) an essential requirement to a cause of actio ... of action crime general plan zoning
emancipation :: n. freeing a minor child from the control of paren ... vorced parent to pay child support.
embezzlement :: n. the crime of stealing the funds or property of ... in trust. See also: embezzler theft
embezzler :: n. a person who commits the crime of embezzlement ... r property of an employer or trust.
emblements :: n. crops to which a tenant who cultivated the land ... ome the property of his/her estate.
emergency :: n. a sudden, unforeseen happening which requires a ... r to protect lives and/or property.
eminent domain :: n. the power of a governmental entity (federal, st ... ngs. See also: condemn condemnation
emolument :: n. salary, wages and benefits paid for employment ... d for employment or an office held.
emotional distress :: n. an increasingly popular basis for a claim of da ... ar value upon it. See also: damages
employee :: n. a person who is hired for a wage, salary, fee o ... ondeat superior scope of employment