Equity is a branch of law, founded in justice and fair dealing, which seeks to supply a remedy when no adequate remedy at law is available.

Question

Quizplus · Accepted Answer

This is an accurate definition of equity, which is a distinct body of law that aims to achieve fairness and justice in situations where the standard legal system may not be sufficient to provide a remedy. Equity is often invoked when there is no clear precedent or statute to apply to a specific case, or when applying the law would lead to an unjust outcome. As such, equity seeks to supplement, rather than replace, the traditional common law or statutory rules that govern most legal disputes.

Equity Is a Branch of Law, Founded in Justice and Fair