What does 'equity' mean? Learn English with Mr Duncan

Today’s word is ‘equity’

The word ‘equity’ is a noun that  can be used in more than one way.

It is a word that is often used  in law, and in everyday life.

A societal word originating from Latin,  the root of which defines ‘evenness’,

‘smoothness’, and ‘fairness’

As a noun the word ‘equity’ relates to  the quality of being impartial and fair.

It also defines what is ‘fair’ and ‘just’; the  opposite being ‘inequity’, as in unfairness.

Thirdly, it defines the policy or practice of  

accounting for the differences in  each individual’s starting point

when pursuing a goal or achievement, and  working to remove barriers to equal opportunity,

as by providing support based on the unique  needs of individual students or employees.

In simple terms - Ensuring that doors are always  open, regardless of one’s social background.

In Law, the word ‘equity’ is  often referred to a ‘chancery’.

This relates to the fair pursuance and  satisfactory outcome of legal disputes.

The transferred fairness of  laws laid down in England,

which have also been adopted in the USA,

are equity.

In real estate, the financial  value of someone's property

over and above the amount the  person owes on their mortgage.

The adjective form of ‘equity’ is ‘equitable’;

in the appearance of fairness  and equity taking place.

The word ‘equality’ is often  confused with ‘equity’.

The first relates to level  distinction, or perception,

while ‘equity’ relates to the process of  ascertaining or giving a fair outcome.

The way someone is viewed as equal is ‘equality’,

with the second relating to opportunities  and doors opened and how they are addressed.

This is ‘Equity’.

Synonyms of ‘equity’ are -  fairness, impartiality, justice,

fair play, justness, even handedness.