Pronunciation: (ek'wi-tē),[key] —n., —pl.-ties. 1. the quality of being fair or impartial; fairness; impartiality: the equity of Solomon. 2. something that is fair and just.
3. Law. a. the application of the dictates of conscience or the principles of natural justice to the settlement of controversies.
b. a system of jurisprudence or a body of doctrines and rules developed in England and followed in the U.S., serving to supplement and remedy the limitations and the inflexibility of the common law.
c. an equitable right or claim.
d. an equity of redemption.
4. the monetary value of a property or business beyond any amounts owed on it in mortgages, claims, liens, etc.
5. Informal.ownership, esp. when considered as the right to share in future profits or appreciation in value.
6. the interest of the owner of common stock in a corporation.
7. (in a margin account) the excess of the market value of the securities over any indebtedness.
8. (cap.) See Actors' Equity Association.