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equity

EK-wit-ee /ˈɛkwɪti/

nounB2GRESATGMAT

generalformallegal

The quality of being fair and impartial; justice achieved by adjusting strict rules to fit individual circumstances.

Differs from strict equality; equity provides tailored adjustments so everyone achieves fair outcomes.

The story behind the word. Derived from Latin 'aequitas' (from 'aequus', meaning level or equal), equity entered English law in the Middle Ages through the Court of Chancery, where chancellors applied conscience and fairness to soften rigid legal rules.

Word relationships

fairness: Fairness is a broader everyday term, while equity emphasizes tailored justice and institutional fairness.

inequity: Inequity denotes lack of fairness or unjust disparity.

Commonly confused with

equality: Equality means treating everyone identically, whereas equity means providing customized support so everyone reaches a fair outcome.

Word family

equitable (adjective): Fair and impartial
equitably (adverb): In an equitable or fair manner

Collocations

promote equity
principle of equity
achieve equity
social equity

Example sentences

"Courts of equity were created historically to mitigate the harsh, inflexible outcomes of formal common law." Judicial philosophy text
"Achieving true social equity requires recognizing that identical treatment does not guarantee fair opportunities for disadvantaged groups." Social policy paper

Memory hook

EQU = Equal outcomes through tailored fairness. Tailored fairness for real justice.

When not to use

In finance, 'equity' refers to stock ownership or net asset value; ensure context clarifies whether moral or financial equity is meant.

Fun facts

In English legal history, the Law of Equity was administered by the Lord Chancellor, known as 'the keeper of the King's conscience.'