Define: Court Of Equity

The Court of Equity, historically known as the Court of Chancery, is a branch of the judiciary system that operates alongside courts of law. It focuses on matters where legal remedies may not be adequate or appropriate, such as cases involving trusts, estates, contracts, or equitable doctrines. The Court of Equity aims to achieve fairness and justice by applying principles of equity, which are based on moral and ethical considerations, rather than strict legal rules. Unlike courts of law, which primarily provide monetary remedies, the Court of Equity can issue injunctions, orders of specific performance, and other equitable remedies to address disputes. Though the distinction between law and equity has diminished in modern legal systems, equitable principles continue to influence judicial decisions, particularly in cases involving complex or novel issues.

A chancery court, equity court or court of equity is a court that is authorized to apply principles of equity (as opposed to law) to cases brought before it. The decisions are not precedent-setting. These courts began with petitions to the Lord Chancellor of England. Some common law jurisdictions – such as the American states of Delaware, New Jersey, and Tennessee – preserve the distinctions between law and equity and between courts of law and courts of equity.

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This glossary post was last updated: 29th March 2024.