EQUITY (Lat. Irquitas, fairness, equality, from civil's, fair, equal). In law. a term some times as synonymous with natural hi-dice, distinguished from the fixed and technical rules of law. In its technical sense the term si_uities OP system of jurisprudence originated and applied by the English Court of Chancery. and in the United States applied by various courts exercising a similar jurisprudence.
Equity .jurisprudence as a whole comprises many unrelated rules and doctrines which, how ever, present a certain homogeneity due to three important faetors common to their development, a. follows: I I ) Their common source. (21 The kind of relief afforded, the court of in personam, as distinguished from the courts of common law, which acted in rem. (3) The object of, or rather the occasion for. the F‘AN helm. This was the necessity of mitigating the rigor of the common-law system. by preventing the inequitable application of rules of law and he affording a remedy when there was no remedy nt law, or when the legal remedy. if any, was in of limb. The right s recognized. and correspond ing D•Ilivd les provided, by the English court of law were early restricted to those ob by a limited number of forms of action III a tiX1•11 character. SIP Cl/NI MON LAW ; PLEAD lam ,`arcs there was a remedY at common law it was frequently inadequate, owing to the fact that those courts whose jurisdiction over act ions w as wholly in ical could award only the recovery of a sum of money or if specific real or personal property. They were powerless to prevent a threatened injury or to compel a dereu lant to perform a legal duty. Another source of difficulty was the fact that all actions at law were two-sided controversies, in which the judgment rendered must be either for a plaintiff or a defendant. The law courts were without the machinery for the settlement of a controversy in which numerous parties had sev eral or distinct interests. The Chancellor ('Keeper of the King's Conscience'), as administrator of justice upon conscientious grounds. and being in vested with the King's prerogative to command thim•s to be done. possessed all the requisite tower to remedy these defects of the common law. The Chancellor could and did command things, other than the payment of money, to be done. He could summon before him all the parties to a con troversy, however numerous, and in a single pro ceeding determine and adjust the rights of all.
It is upon these simple but fundamental distinc tions that the differences between the law and equity systems are based. It must not be in ferred that in modern equity rule and precedent are without significance. The principles of equity jurisprudence early took definite form, and were embodied in decisions which have substantially the same force as precedents as the decisions of the court: of common law. These principles are now fixed, and can only be changed by legislative action. For further discussion of the develop ment of equity jurisprudence, see CHANCERY.
From the very nature of equity jurispru dence it follows that the jurisdiction of courts of equity is as extensive and as diversive as that of the courts of law whose remedies it was the aim of equity to supplement. It also follows from the supplementary character of equity that as a prerequisite to the exercise of its jurisdiction there should be no adequate remedy at law, which may result either from the fart that the legal remedy, because of its nature, cannot effect com plete justice or that there is a right which courts of equity recognize as such, for which they will grant relief. but for which there is no legal remedy of any kind.
The jurisdiction of equity may be classified with reference to the jurisdiction of courts of law as (a) concurrent. (b) supplementary or auxiliary, (r) exclusive. ,Jurisdiction is said to where courts both of law and equity have jurisdiction over the subject matter but the exercise of jurisdiction by one court excludes the exercise of jarisdiction by the other. Thus, in ease of breach of contract, the other party may seek to recover damages at law. or, in a proper case. he may seek specific performance of the con tract in equity; the choice of one remedy excludes resort to the other. Jurisdiction is supplemental when it affords a remedy in addition to, but not exclusive of. a legal remedy. Thus. the right of the mortgagor to redeem in equity and the juris diction of equity over legal waste are examples of supplemental jurisdict ion. Jurisdiction is exvlusi re when equity affords relief for which there is no corresponding legal remedy; or. stated in different terms. when equity recognizes and proteets a right whirl is not recognized at law, as in case of uses, trusts, equitable easements, and equitable waste.