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EQUITY

Categories: Contracts

Definition (1910 Edition)

1. In its broadest and most general signification, this term denotes the spirit and the habit of fairness, justness, and right dealing which would regulate the inter-

course of men with men,—the rule of doing to all others as we desire them to do to us; or, as it is expressed by Justinian, “to live honestly, to harm nobody, to render to every man his due.” Inst. 1, 1, 3. It is therefore the synonym of natural right or justice. But in this sense its obligation is ethical rather than jural, and its discussion belongs to the sphere of morals. It is grounded in the precepts of the conscience, not in any sanction of positive law.

UK Law Commentary

Status: ✅ Still applies. Principles of fairness originally administered by the Court of Chancery. Now applied in all courts alongside common law.

Modern Application

📜 Supreme Court Act 1981 • Senior Courts Act 1981 • Earl of Oxford's Case (1615) • legislation.gov.uk
Source: Black's Law Dictionary, 2nd Edition (1910) — Public Domain. UK commentary and modern updates are original additions. This entry is for educational reference only and does not constitute legal advice.