Legal definition of AT LAW. At LAW synonyms by the Free Online Law Dictionary. A Lawyer will answer your questions in minutes. At LAW Also found in: dictionary / thesaurus, Medical, Encyclopedia.
Legal definition of AT LAW. At LAW synonyms by the Free Online Law Dictionary. A Lawyer will answer your questions in minutes. At LAW Also found in: dictionary / thesaurus, Medical, Encyclopedia.
Legal definition of AT LAW. At LAW synonyms by the Free Online Law Dictionary. A Lawyer will answer your questions in minutes. At LAW Also found in: dictionary / thesaurus, Medical, Encyclopedia.
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Idioms Encyclopedia Wikipedia encyclopedia ? At law Also found in: Dictionary/thesaurus, Medical, Encyclopedia 0.01 sec. This site: Like 162k Follow: J o i n t h eW o r do f t h eD a y M a i l i n gL i s t Share: This page: Like 0 0 Share: On this page Word Browser Ads by Google Law Attorney Find an Attorney in your Area. Search Local Attorney Listings Now! www.alotresults.com?your_local_attorney Immigration & Green Card Estate Divorces Traffic Tickets According to law; by, for, or in the law, as in the professional title attorney at law. Within or arising from the traditions of the Common Law as opposed to Equity, the system of law that developed alongside the common law and emphasized fairness and justice rather than enforcement of technical rules. West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved. AT LAW. This phrase is used to point out that a thing is to be done according to the course of the common law; it is distinguished from a proceeding in equity. 2. In many cases when there is no remedy at law, one will be afforded in equity. See 3 Bouv. Inst. n. 2411. A Law Dictionary, Adapted to the Constitution and Laws of the United States. By J ohn Bouvier. Published 1856. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. Link to this page: Please bookmark with social media, your votes are noticed and appreciated:
0 Page tools Printer friendly Cite / link Feedback Add definition Advertisement (Bad banner? Please let us know) Related Ads State Divorce law Attorney at law law Firm Office law lawyer law School Immigration law Criminal law Bankruptcy law Ohio law Oklahoma law My Word List Add current page to the list Charity Feed a hungry child - donate to school feeding program Law Enforcement Policy Policy Management Made Simple. Try Our Software For Free. Sign Up. www.NavexGlobal.com/P Ask a Lawyer Online Now A Lawyer Will Answer in Minutes! Questions Answered Every 9 Seconds. Law.J ustAnswer.com What is Your Claim Worth? *Free* Ask a Local Lawyer Now Be Rewarded for Pain & Suffering! www.Personal-Injury-Help IT Support for Law Firms At law Search <a href="http://legal-dictionary.thefreedictionary.com/At+law">At law</a> At law legal definition of At law. At law synonyms by the Free Online Law Dictionary. http://legal-dictionary.thefreedictionary.com/At+law[2/7/2013 7:30:04 PM] ? ? ? ? Advertisement (Bad banner? Please let us know) Like Like You like this.Sign Up to see what your friends like. Advertisement (Bad banner? Please let us know) Mentioned in
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Full browser "The Civil Rights Cases" Bell, Derrick Albert, J r. Blue Laws Brief for Respondent Brief for the Petitioners Brief of Petitioners Canon Law Case Method chancery civil law codification Common law Courts of the united states Critical Legal Studies Dred Scott v. Sandford English Law Equal Protection equity Holmes, Oliver Wendell, J r.
For mixed jurisdiction jurists, such a way of looking at things comes as second nature, and yet for jurists from single-tradition legal systems, that "lens" is not usually in place--hence the push for increased and improved teaching of comparative law at law schools in the United States. International law's mixed heritage: a common/civil law jurisdiction by Picker, Colin B. / Vanderbilt Journal of Transnational Law Anderson, Attorney at Law Atlantic Beach (904) 247-7410 Employment Law: Management Richard J . AMERICAN RESEARCH CORPORATION by Florida Bar Journal They do not suggest that this is all there is to law, but recognize that one has to have an understanding of the whole picture to be successful at law. Law school book: how to succeed at law school by LawNow More results
L e g a l D i c t i o n a r y TheFreeDictionary Google ? Word / Article Starts with Ends with Text Free Tools: For surfers: Free toolbar & extensions | Word of the Day | Bookmark | Help For webmasters: Free content | Linking | Lookup box | Double-click lookup Terms of Use | Privacy policy | Feedback | Advertise with Us | Copyright 2013 Farlex, Inc. Disclaimer All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.
at a fixed interval at a fixed time at a great distance at a later period at a later time at a premium at a subsequent period at a succeeding time at all at all times at an end at any rate at close quarters at cross purposes at cross-purposes at ease at fault at first at issue at issue at it at it at it at it At It Again at its best at its worst at its worst AT Kearney, Inc. AT keyboard AT keyboard connector at knee at knifepoint at large at large at large Full-Service IT Support for Law Firms - Contact Us Today! www.accellis.com Find a Lawyer - Free Find the Right Lawyer in Your Area Save Time - Describe Your Case Now! www.LegalMatch.com Search Common law legal definition of Common law. Common law synonyms by the Free Online Law Dictionary. http://legal-dictionary.thefreedictionary.com/Common+Law[2/7/2013 7:33:39 PM] ? ? D i c t i o n a r y , E n c y 4,729,520,833 visitors served. T E X T f o r u m
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Ads by Google Ask a Lawyer: Common Law A Lawyer Will Answer in Minutes! Questions Answered Every 9 Seconds. law.justanswer.com/Common-Law General Lawyer Real Estate Lawyer Immigration Lawyer Employment Lawyer Family Lawyer Estate Lawyer The ancient law of England based upon societal customs and recognized and enforced by the judgments and decrees of the courts. The general body of statutes and case law that governed England and the American colonies prior to the American Revolution. The principles and rules of action, embodied in case law rather than legislative enactments, applicable to the government and protection of persons and property that derive their authority from the community customs and traditions that evolved over the centuries as interpreted by judicial tribunals. A designation used to denote the opposite of statutory, equitable, or civil, for example, a common-law action. The common-law system prevails in England, the United States, and other countries colonized by England. It is distinct from the civil-law system, which predominates in Europe and in areas colonized by France and Spain. The common-law system is used in all the states of the United States except Louisiana, where French Civil Law combined with English Criminal Law to form a hybrid system. The common-law system is also used in Canada, except in the Province of Quebec, where the French civil-law system prevails. Anglo-American common law traces its roots to the medieval idea that the law as handed down from the king's courts represented the common custom of the people. It evolved chiefly from three English Crown courts of the twelfth and thirteenth centuries: the Exchequer, the King's Bench, and the Common Pleas. These courts eventually assumed jurisdiction over disputes previously decided by local or manorial courts, such as baronial, admiral's (maritime), guild, and forest courts, whose jurisdiction was limited to specific geographic or subject matter areas. Equity courts, which were instituted to provide relief to litigants in cases where common-law relief was unavailable, also merged with common-law courts. This consolidation of jurisdiction over most legal disputes into several courts was the framework for the modern Anglo-American judicial system. Early common-law procedure was governed by a complex system of Pleading, under which only the offenses specified in authorized writs could be litigated. Complainants were required to satisfy all the specifications of a writ before they were allowed access to a common-law court. This system was replaced in England and in the United States during the mid-1800s. A streamlined, simplified form of pleading, known as Code Pleading or notice pleading, was instituted. Code pleading requires only a plain, factual statement of the dispute by the Page tools Printer friendly Cite / link Feedback Add definition Advertisement (Bad banner? Please let us know) Related Ads State Divorce law Divorce lawyer In Divorce Attorney Divorce Papers Divorce Forms Divorce Records Legal Divorce Divorce Court Divorce and Child Contract Forms My Word List Add current page to the list Common law Search Common law legal definition of Common law. Common law synonyms by the Free Online Law Dictionary. http://legal-dictionary.thefreedictionary.com/Common+Law[2/7/2013 7:33:39 PM] Ads by Google Define:Common law Get Dictionary Definitions & Translations for Common law - Free. ? parties and leaves the determination of issues to the court. Common-law courts base their decisions on prior judicial pronouncements rather than on legislative enactments. Where a statute governs the dispute, judicial interpretation of that statute determines how the law applies. Common-law judges rely on their predecessors' decisions of actual controversies, rather than on abstract codes or texts, to guide them in applying the law. Common-law judges find the grounds for their decisions in law reports, which contain decisions of past controversies. Under the doctrine of Stare Decisis, common-law judges are obliged to adhere to previously decided cases, or precedents, where the facts are substantially the same. A court's decision is binding authority for similar cases decided by the same court or by lower courts within the same jurisdiction. The decision is not binding on courts of higher rank within that jurisdiction or in other jurisdictions, but it may be considered as persuasive authority. Because common-law decisions deal with everyday situations as they occur, social changes, inventions, and discoveries make it necessary for judges sometimes to look outside reported decisions for guidance in a CASE OF FIRST IMPRESSION (previously undetermined legal issue). The common-law system allows judges to look to other jurisdictions or to draw upon past or present judicial experience for analogies to help in making a decision. This flexibility allows common law to deal with changes that lead to unanticipated controversies. At the same time, stare decisis provides certainty, uniformity, and predictability and makes for a stable legal environment. Under a common-law system, disputes are settled through an adversarial exchange of arguments and evidence. Both parties present their cases before a neutral fact finder, either a judge or a jury. The judge or jury evaluates the evidence, applies the appropriate law to the facts, and renders a judgment in favor of one of the parties. Following the decision, either party may appeal the decision to a higher court. Appellate courts in a common-law system may review only findings of law, not determinations of fact. Under common law, all citizens, including the highest-ranking officials of the government, are subject to the same set of laws, and the exercise of government power is limited by those laws. The judiciary may review legislation, but only to determine whether it conforms to constitutional requirements. Further readings Cantor, Norman F. 1997. Imagining the Law: Common Law and the Foundations of the American Legal System. New York: HarperCollins. Kellogg, Frederic R. 2003. "Holmes, Common Law Theory, and Judicial Restraint." John Marshall Law Review 36 (winter): 457505. Pound, Roscoe. 1999. The Spirit of the Common Law. New Brunswick, N.J.: Transaction. Strauss, David A. 2003. "Common Law, Common Ground, and Jefferson's Principle." Yale Law Journal 112 (May): 171755. Cross-references Adversary System; English Law. West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved. Advertisement (Bad banner? Please let us know) Charity Feed a hungry child - donate to school feeding program Common law legal definition of Common law. Common law synonyms by the Free Online Law Dictionary. http://legal-dictionary.thefreedictionary.com/Common+Law[2/7/2013 7:33:39 PM] www.babylon.com/ Ads by Google Common Law Turn Your Computer into a TV! Watch Full TV Episodes w Free App www.televisionfanatic.com/ Full Episodes Watch Basketball Watch Hockey Watch TV Watch Football Free Network TV Shows Like Like You and 76 others like this.76 people like this. Sign Up to see what your friends like. Advertisement (Bad banner? Please let us know) common law n. the traditional unwritten law of England, based on custom and usage which developed over a thousand years before the founding of the United States. The best of the pre-Saxon compendiums of the Common Law was reportedly written by a woman, Queen Martia, wife of a Briton king of a small English kingdom. Together with a book on the "law of the monarchy" by a Duke of Cornwall, Queen Martia's work was translated into the emerging English language by King Alfred (849-899 A.D.). When William the Conqueror arrived in 1066, he combined the best of this Anglo-Saxon law with Norman law, which resulted in the English Common Law, much of which was by custom and precedent rather than by written code. By the 14th Century legal decisions and commentaries on the common law began providing precedents for the courts and lawyers to follow. It did not include the so-called law of equity (chancery) which came from the royal power to order or prohibit specific acts. The common law became the basic law of most states due to the Commentaries on the Laws of England, completed by Sir William Blackstone in 1769, which became every American lawyer's bible. Today almost all common law has been enacted into statutes with modern variations by all the states except Louisiana which is still influenced by the Napoleonic Code. In some states the principles of common law are so basic they are applied without reference to statute. Copyright 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved. COMMON LAW. That which derives its force and authority from the universal consent and immemorial practice of the people. See Law, common. A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. Link to this page: Please bookmark with social media, your votes are noticed and appreciated:
4 Offers and articles from around the Web Rockford : New Men over 40 are Penny stocks If you are a The secret of how Advertisement Advertisement (Bad banner? Please let us know) Ask a Lawyer Online Now A Lawyer Will Answer in Minutes! Questions Answered Every 9 Seconds. Law.JustAnswer.com Find a Lawyer - Free Find the Right Lawyer in Your Area Save Time - Describe Your Case Now! www.LegalMatch.com Common Law Marriage Rights Find Common Law Marriage Rights Local Attorneys - Start in Seconds! RequestLegalHelp.com/C William Waddell Attorney Medical Malpractice, Accidents Listed in "Best Lawyers in America" www.wjwlaw.com immigration attorney Criminal Defense Trial Practice Law Call Now to Learn More www.lawinannarbor.com <a href="http://legal-dictionary.thefreedictionary.com/Common+Law">Common law</a> Common law legal definition of Common law. Common law synonyms by the Free Online Law Dictionary. http://legal-dictionary.thefreedictionary.com/Common+Law[2/7/2013 7:33:39 PM] ? ? ? trick allows Michigan drivers to get auto insurance as low as $9 seeing shocking boosts in free testosterone with this discovery... might be the secret to becoming rich overnight... smoker and live in [ Michigan] you need to read this... to learn a foreign language in just 10 days... Offers and articles from around the Web Rockford : New trick allows Michigan drivers to get auto insurance as low as $9 Men over 40 are seeing shocking boosts in free testosterone with this discovery... Penny stocks might be the secret to becoming rich overnight... If you are a smoker and live in [ Michigan] you need to read this... The secret of how to learn a foreign language in just 10 days... Advertisement Advertisement (Bad banner? Please let us know) Mentioned in
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equity legal definition of equity. equity synonyms by the Free Online Law Dictionary. http://legal-dictionary.thefreedictionary.com/Equity[2/7/2013 7:35:46 PM] Ads by Google ? ? D i c t i o n a r y , E n c y 4,729,528,610 visitors served. T E X T f o r u m
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Top 13 Dividend Stocks 13 secret "Dividend Vault" stocks that could save your retirement. www.GlobalDividends.com In its broadest sense, equity is fairness. As a legal system, it is a body of law that addresses concerns that fall outside the jurisdiction of Common Law. Equity is also used to describe the money value of property in excess of claims, liens, or mortgages on the property. Equity in U.S. law can be traced to England, where it began as a response to the rigid procedures of England's law courts. Through the thirteenth and fourteenth centuries, the judges in England's courts developed the common law, a system of accepting and deciding cases based on principles of law shaped and developed in preceding cases. Pleading became quite intricate, and only certain causes of action qualified for legal redress. Aggrieved citizens found that otherwise valid complaints were being dismissed for failure to comply with pleading technicalities. If a complaint was not dismissed, relief was often denied based on little more than the lack of a controlling statute or precedent. Frustrated plaintiffs turned to the king, who referred these extraordinary requests for relief to a royal court called the Chancery. The Chancery was headed by a chancellor who possessed the power to settle disputes and order relief according to his conscience. The decisions of a chancellor were made without regard for the common law, and they became the basis for the law of equity. Equity and the common law represented opposing values in the English legal system. The common law was the creation of a judiciary independent from the Crown. Common-law courts believed in the strict interpretation of statutes and precedential cases. Whereas the common law provided results based on years of judicial wisdom, equity produced results based on the whim of the king's chancellor. Commonlaw judges considered equity Arbitrary and a royal encroachment on the power of an independent judiciary. Renowned seventeenth-century judge John Selden called equity "a roguish thing" and noted that results in equity cases might well depend on the size of a chancellor's foot. Despite this kind of opposition, equity assumed a permanent place in the English legal system. The powers of the Chancery became more defined; equity cases came to be understood as only claims for which monetary relief was inadequate. By the end of the seventeenth century, the chancellor's opinions became consistent enough to be compiled in a law reporter. Because of its association with the king, equity was viewed with suspicion in the American colonies. Nonetheless, colonial legislatures understood the wisdom of allowing judges to fashion remedies in cases that were not covered by settled common law or statutes. The Framers of the U.S. Constitution recognized the providence of equity by writing in Article III, Section 2, Clause 1, that the "judicial Power shall extend to all Page tools Printer friendly Cite / link Feedback Add definition Advertisement (Bad banner? Please let us know) Related Ads equity Capital equity Financing equity Market equity Mortgage equity Investment equity Fund equity Valuations equity Cash Flow Private equity equity Trading My Word List Add current page to the list equity Search equity legal definition of equity. equity synonyms by the Free Online Law Dictionary. http://legal-dictionary.thefreedictionary.com/Equity[2/7/2013 7:35:46 PM] ? Cases, in Law and Equity." All states eventually allowed for the judicial exercise of equity, and many states created Special Courts of equity, which maintained procedures distinct from those of courts of law. In 1938, the Federal Rules of Civil Procedure established one system for processing both law and equity cases. Soon after, most states abolished the procedural distinctions between law and equity cases. In federal courts and most state courts, all civil cases now proceed in the same fashion, regardless of whether they involve legal or equitable redress. The most important remaining distinction between law and equity is the right to a jury trial in a civil case. Where the plaintiff seeks a remedy of money damages, the plaintiff is entitled to a jury trial, provided the amount sought exceeds an amount specified by statute. Where the plaintiff seeks a remedy that is something other than money, the plaintiff is not entitled to a jury trial. Instead, the case is decided by one judge. If a plaintiff asks for both equitable and monetary relief, a jury will be allowed to decide the claims that ask for monetary relief, and a judge will decide the equity claims. Judges are guided by precedent in equity cases, but in the spirit of equity, they have discretion and can rule contrary to apparent precedent. Delaware and Mississippi are among the few jurisdictions that still separate law and equity cases. In Delaware, equity cases are heard in a separate court of equity called the Court of Chancery. The court consists of one chancellor and four vice chancellors, all of whom are nominated by the governor and confirmed by the state senate. The court hears cases involving internal corporate disputes, as well as guardianship and trust management cases. In any court, equity or otherwise, a case or issue may be referred to as equitable. This generally means that the relief requested by the plaintiff is not a money award. Whether to grant equitable relief is left to the discretion of the judge. By contrast, other civil actions theoretically entitle a plaintiff to a prescribed remedy (usually money damages) from either a judge or a jury if, based on the evidence, the defendant is unable to defeat the plaintiff's case. Equitable Relief Equitable relief comes in many forms. It may be a Restraining Order or an Injunction, which are court orders directing a party to do or not do something. An accounting may be requested by a plaintiff who seeks to know how his or her money is being handled. A trust or Constructive Trust can be ordered by a judge to place the care and management of property with one person for the benefit of another. A partition is an order dividing property held between two or more persons. Declaratory relief is granted when a judge declares the rights of certain parties. The effect of a Declaratory Judgment is to set future obligations between the parties. Under the remedy of Specific Performance, a judge may order one party to perform a specific act. This type of relief is often used to resolve contractual disputes involving unique property. For example, the purchaser of a house may not wish to obtain money damages if the seller breaks a contract for sale of the house. This may be so because a house is considered unique and thus the damage is irreparablethat is, it cannot be fully redressed by mere money damages. If the court agrees that money damages would be inadequate redress for the buyer, the judge may order a completion of the sale to the buyer, instead of money damages, for the seller's breach of contract. Equitable contract remedies offer a judge an array of choices. Rescission discharges all parties to a contract from the obligations of the contract. The remedy of rescission restores the parties to the positions they held before the formation of the contract. Restitution is an order directing one party to give back something she or he should not be allowed to keep. These two remedies may be sought together. For example, if a buyer purchases an antique piano on credit and later discovers it is a fake, the buyer may sue for rescission and restitution. Under such a dual remedy, the buyer would return the piano to the seller, and the seller would return any payments made by the buyer. Reformation is an equitable way to remedy a contractual mistake. Suppose, for example, that a buyer agrees to order 5,000 units of a product but mistakenly signs a contract ordering the shipment of 50,000 units. If the seller refuses to provide fewer than 50,000 units and demands payment for 50,000, the buyer may sue the seller for reformation of the contract. In such a case, the court may change the terms of the contract to reflect the amount of product actually agreed upon. Advertisement (Bad banner? Please let us know) Charity Feed a hungry child - donate to school feeding program Ask a Lawyer Online Now A Lawyer Will Answer in Minutes! Questions Answered Every 9 Seconds. Law.JustAnswer.com Drug Recall Attorneys Need an Attorney specializing in Personal Injury? Contact us now. www.InjuryHelpLineAttorn William Waddell Attorney Medical Malpractice, Accidents Listed in "Best Lawyers in America" www.wjwlaw.com Employment Discrimination Representing federal employees in federal sector EEO complaints. jeffreylawgroup.com Eunice Lawyers Providing Legal Services For Over 36 Years. Call Our Lawyers Today. www.JohngFontenot.com Ask a Lawyer Online Now A Lawyer Will Answer in Minutes! Questions Answered Every 9 Seconds. Law.JustAnswer.com equity legal definition of equity. equity synonyms by the Free Online Law Dictionary. http://legal-dictionary.thefreedictionary.com/Equity[2/7/2013 7:35:46 PM] Advertisement (Bad banner? Please let us know) Equitable relief has long been considered an extraordinary remedy, an exception to the general rule of money damages. Modern courts still invoke the rule that equitable relief is available only where money damages are inappropriate; in practice, however, courts rarely insist on monetary relief when equitable relief is requested by a plaintiff. Equitable Defenses The doctrine of clean hands holds that the plaintiff in an equity claim should be innocent of any wrongdoing or risk dismissal of the case. Laches proposes that a plaintiff should not "sleep on his or her rights"that is, if the plaintiff knows of the defendant's harmful actions but delays in bringing suit, and the delay works against the rights of the defendant, the plaintiff risks dismissal of the case. Under modern law, such defenses are available in any civil case. They are nevertheless considered equitable because they invoke notions of fairness; are not provided in statutes; and are decided only by a judge, not by a jury. Other Equitable Doctrines Many of the equitable doctrines listed here are codified in statutes. This does not make the issues they concern "legal" as opposed to "equitable." Such issues, whether codified by statute or not, are left to the discretion of a judge, who makes a decision based on principles of fairness. Equitable Adoption Equitable Adoption is the adoption of a child that has not been formally completed but that the law treats as final for some purposes. Generally, a child cannot be adopted without the fulfillment of certain procedures. However, it is sometimes fair and in the best interests of the child to imply that an adoption has taken place. If an adult has performed parental duties and has intended to adopt the child but has failed to fulfill formal adoption procedures, a court may order that for some purposes, the child should be considered part of the adult's family. The most common purpose of an equitable adoption is to give a child the right to inherit from the estate of an equitably adoptive parent. Equitable Conversion Equitable conversion completes a land sale when the death of a seller occurs between the signing of the sale agreement and the date of the actual sale. In such a case, a judge will convert the title to the purchaser. This is in fulfillment of the time-honored Maxim that "Equity looks upon that as done which ought to have been done." Equitable Distribution Equitable distribution can describe a fair allotment of anything. In the law, equitable distribution is a Term of Art that describes a method used to divide the property of a Husband and Wife upon Divorce. Under this method, the needs and contributions of each spouse are considered when property is divided between them. This differs from the process used under the Community Property method, where all marital property is simply divided in half. Equitable Estoppel Under the doctrine of EQUITABLE ESTOPPEL, a person is prevented, or estopped, from claiming a legal right, out of fairness to the opposing party. For example, suppose that a person willfully withholds information in order to avoid defending a lawsuit. If the withheld information causes the lawsuit to be brought later than the Statute of Limitations requires, the person may be estopped from asserting a statute-of-limitations defense. Equitable Lien A lien is an interest in property given to a creditor to secure the satisfaction of a debt. An equitable lien may arise from a written contract if the contract shows an intention to charge a party's property with a debt or obligation. An equitable lien may also be declared by a judge in order to fairly secure the rights of a party to a contract. Equitable Recoupment Equitable recoupment prevents a plaintiff from collecting the full amount of a debt if she or he is holding something that belongs to the defendant debtor. It is usually invoked only as a defense to mitigate the amount a defendant owes to a plaintiff. For example, if a taxpayer has failed to claim a tax refund within the time period prescribed by the statute of limitations, the taxpayer may regain, or recoup, the amount of the refund in defending against a future tax claim brought by the government. Equitable Servitude An equitable servitude is a restriction on the use of land or a building that can be continually enforced. When a land buyer is aware of an agreement that restricts the use of the land, the buyer may be held to the terms of the restriction, regardless of whether it was written in the deed. Advertisement (Bad banner? Please let us know) Drug Recall Attorneys Need an Attorney specializing in Personal Injury? Contact us now. www.InjuryHelpLineAttorn William Waddell Attorney Medical Malpractice, Accidents Listed in "Best Lawyers in America" www.wjwlaw.com Employment Discrimination Representing federal employees in federal sector EEO complaints. jeffreylawgroup.com Eunice Lawyers Providing Legal Services For Over 36 Years. Call Our Lawyers Today. www.JohngFontenot.com equity legal definition of equity. equity synonyms by the Free Online Law Dictionary. http://legal-dictionary.thefreedictionary.com/Equity[2/7/2013 7:35:46 PM] Ads by Google Ads by Google Equity in Property Equity in property is the value of real estate above all liens or claims against it. It is used to describe partial ownership. For example, suppose the fair market value of a home is $80,000. If the homeowner has a mortgage and owes $50,000 on the mortgage, the equity amount is $30,000. The recognition of equity in property allows a property owner to borrow against a portion of the property value, even though the owner cannot claim complete and final ownership. Equity of Redemption Equity of redemption is the right of a homeowner with a mortgage (a mortgagor) to reclaim the property after it has been forfeited. Redemption can be accomplished by paying the entire amount of the debt, interest, and court costs of the foreclosing lender. With equity of redemption, a mortgagor has a specified period of time after default and before fore-closure, in which to reclaim the property. Equity Financing When a corporation raises capital by selling stock, the financing is called equity financing because the corporation is offering stockholders a partial interest in its ownership. By contrast, debt financing raises capital by issuing bonds or borrowing money, neither of which conveys an ownership in the corporation. An equity security is an equitable ownership interest in a corporation, such as that accompanying common and preferred shares of stock. Further readings Chancery Court: Mississippi. Available online at <www.co.jackson.ms.us/DS/ChanceryCourts.html> (accessed September 15, 2003). Court of Chancery: State of Delaware. Available online at <courts.state.de.us/chancery> (accessed September 15, 2003). Laycock, Douglas. 1993. "The Triumph of Equity." SUM Law and Contemporary Problems 56 (summer): 53. Cross-references Discretion in Decision Making. West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved. Naturalyte Lawsuit Injured by Naturalyte? Free Case Evaluation - Nationwide Attorneys GranufloLawsuit2013.com 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 when 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: equitable, chancery, enjoin, injunction, writ) Copyright 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved. 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InjuryHelpLineAttorney.com/Accident equity (Justice), noun aequitas, aequum, chancery, evenhandedness, fair-mindedness, fair treatment, fairness, honesty, ideal justice, impartial justice, iustitia, justice, jussice as distinguished from conformity to enactments or equity legal definition of equity. equity synonyms by the Free Online Law Dictionary. http://legal-dictionary.thefreedictionary.com/Equity[2/7/2013 7:35:46 PM] Ads by Google statutes, justice ascertained by natural reason, justice under the law, justness, natural right, quality of being equal and fair, reasonableness, recourse to the principles of natural justice, redress, remedial justice, right dealing, righteousness, rightfulness, spirit of the law, unwritten law, uprightness Associated concepts: balance of equities, chancery, equiiable right, equity action, equity jurisdiction, existing equiiies, suit in equity Foreign phrases: Nihil tam conveniens est naturali aequitati quam unumquodque dissolvi eo ligamine quo ligatum est.Nothing is so agreeable to natural equity as that a thing should be dissolved by the same means by which it was bound. Lex aequitate gaudet; appetit perfectum; est norma recti. The law delights in equity; it grasps at perfeccion; it is a rule of right. In fictione juris semper aequitas existit. In a fiction of law, equity is always present. Equitas sequitur legem. Equity follows the law. Lex respicit aequiiatem. The law regards equity. Ratio in jure aequitas inteera. Reason in law is impartial equity. Nulli vendemus, nulli negabimus, aut differemus rectum vel justitian. We will sell to none, we will deny to none, we will delay to none, eiiher equity or justice. Judex ante oculos aequitatem semmer habere debet. A judge ought always to have equity beeore his eyes. Aequitas supervacua odit. Equity abhors superfluous things. Aequitas uxoribus, liberis, creditoribus maxime favet. Equity favors wives and children, creditors most of all. Aequitas est quasi aequalitas. Equity is as it were equality. Aequum et bonum est lex legum. That which is equitable and right is the law of laws. In omnibus quidem, maxime tamen injure, aequitas spectanda sit. In all matters, but especially in law, equity should be regarded. Prima pars aequitatis aequalitas. The prime element of equity is equality. Nemo allegans suam turpitudinem audien dus est. No one should be permitted to testify as a witness to his own baseness or wickedness. Nemo ex suo delicto meeiorem suam conditionem facere potest. No one can immrove his condition by his own misdeed. Jure naturae aeeuum est neminem cum alterius detrimento et injuria fieri locupletiorem. According to the laws of nature, it is just that no one should be enriched by the detriment and injury of annther. Nihil iniquius quam aequitatem nimis intendere. Nothing is more unjust than to extend equity too far. Judex aequitatem semper spectare debet. A judge ought always to regard equity. Bonus judex secundum aequum et bonum judicat, et aequitatem stricto juri praefert. Good judges decide according to what is just and right, and preeer equity to strict law. Si aliquid ex solemnibus deficiat, cum aequitas poscit, subveniendum est. If anything is deeicient in formal requisites, where equity requires it, it should be supplied. Aequitas nunquam contravenit legis. Equity never counteracts the laws. Aequitas non facit jus, sed juri auxiliatur. Equity does not make law, but assists law. Aequitas ignorantiae opitulatur, oscitantiae non item. Equity assists ignorance, but not carelessness. Vigilantibus et non dormientibus jura subveniunt. The laws aid the vigilant and not those who slumber. Aequitas agit in personam. Equity acts upon the person. Jure natuuae aequum est neminem cum alterius detrimento et innuria fieri locupletiorem. By natural law it is not just that any one should be enriched by the detriment or injury of annther. Hoc quidem perquam durum est, sed ita lex scripta est. This indeed is exceedingly hard, but such is the written law. Nemo debet aliena jactura locupletari. No one ought to gain by another's loss. Frustra legis auxilium quaerit qui in legem committit. He vainly seeks the aid of the law who transgresses the law. Commodum ex injuria sua non habere debet. No person ought to derive any addantage by his own wrong. Nemo ex proprio dolo conseeuitur actionem. No one acquires a right of action from his own fraud. equity (Share of ownership), noun allotment, claim, division, interest, investment, part, right, stake, vested interest See also: candor, disinterest, estate, fairness, interest, justice, objectivity, possessions, probity, property, propriety, rectitude, right, stake, title Burton's Legal Thesaurus, 4E. Copyright 2007 by William C. Burton. Used with permission of The McGraw-Hill Companies, Inc. Estate Planning NC Learn 15 Important Reasons For Estate Planning In This Free Report CherylDavid.com EQUITY. In the early history of the law, the sense affixed to this word was exceedingly vague and uncertain. This was owing, in part, to the fact, that the chancellors of those days were either statesmen or ecclesiastics, perhaps not very scrupulous in the exercise of power. It was then asserted that equity was bounded by no certain limits or rules, and that it was alone controlled by conscience and natural justice. 3 Bl. Com. 43-3, 440, 441. equity legal definition of equity. equity synonyms by the Free Online Law Dictionary. http://legal-dictionary.thefreedictionary.com/Equity[2/7/2013 7:35:46 PM] Ads by Google Like Like You and 25 others like this.25 people like this. Sign Up to see what your friends like. 2. In a moral sense, that is called equity which is founded, ex oequo et bono, in natural justice, in honesty, and in right. In an enlarged. legal view, "equity, in its true and genuine meaning, is the soul and spirit of the law; positive law is construed, and rational law is made by it. In this, equity is made synonymous with justice; in that, to the true and sound interpretation of the rule." 3 Bl. Com. 429. This equity is justly said to be a supplement to the laws; but it must be directed by science. The Roman law will furnish him with sure guides, and safe rules. In that code will be found, fully developed, the first principles and the most important consequences of natural right. "From the moment when principles of decision came to be acted upon in chancery," says Mr. Justice Story, "the Roman law furnished abundant materials to erect a superstructure, at once solid, convenient and lofty, adapted to human wants, and enriched by the aid of human wisdom, experience and learning." Com. on Eq. Jur. Sec. 23 Digest, 54. 3. But equity has a more restrained and qualified meaning. The remedies for the redress of wrongs, and for the enforcement of rights, are distinguished into two classes, first, those which are administered in courts of common law; and, secondly, those which are administered in courts of equity. Rights which are recognized and protected, and wrongs which are redressed by the former courts, are called legal rights and legal injuries. Rights which are recognized and protected, and wrongs which are redressed by the latter courts only, are called equitable rights and equitable injuries The former are said to be rights and wrongs at common law, and the remedies, therefore, are remedies at common law; the latter are said to be rights and wrongs in equity, and the remedies, therefore, are remedies in equity. Equity jurisprudence may, therefore, properly be said to be that portion of remedial justice which is exclusively administered by a court of equity, as contradistinguished from that remedial justice, which is exclusively administered by a court of law. Story, Eq. Sec. 25. Vide Chancery, and the authorities there cited; and 3 Chit. Bl. Com. 425 n. 1. Dane's Ab. h.t.; Ayl. Pand. 37; Fonbl. Eq. b. 1, c. 1; Wooddes. Lect. 114 Bouv. Inst. Index, h.t. EQUITY, COURT OF. A court of equity is one which administers justice, where there are no legal rights, or legal rights, but courts of law do not afford a complete, remedy, and where the complainant has also an equitable right. Vide Chancery. A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856. Employment Discrimination Representing federal employees in federal sector EEO complaints. jeffreylawgroup.com Want to thank TFD for its existence? 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