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LSDefine

Simple English definitions for legal terms

equity

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A quick definition of equity:

Equity is a type of solution that a court can give when someone has been wronged. It's different from a regular solution because it doesn't involve money. Instead, it might be something like making the person who did wrong do a specific thing, or stopping them from doing something. This type of solution is used when a regular solution wouldn't be enough to fix the problem. In the past, there were special courts just for equity, but now most courts can give both regular and equitable solutions.

A more thorough explanation:

In law, equity refers to a set of remedies and procedures that are different from legal ones. Legal remedies usually involve money, while equitable relief involves injunctions, specific performance, or vacatur. Courts award equitable remedies when a legal remedy is not enough. For example, if a claim involves a unique piece of real estate, the court may award equitable relief.

The distinction between legal and equitable remedies originated in England, where there were separate courts for each. In America, some states created chancery courts that only deal with equitable relief. Today, most courts can prescribe both legal and equitable remedies.

Courts are sometimes hesitant to impose equitable relief because it requires monitoring the defendant's compliance with the court order. However, the Supreme Court has encouraged the use of equitable remedies in certain areas of law.

For example, in CIGNA v. Amara, the Supreme Court held that for violations of ERISA, the aggrieved party may be entitled to "obtain other appropriate equitable relief" in addition to legal remedies. In Montanile v. Bd. of Trs. of Nat'l Elevator Indus. Health Benefit Plan, the Supreme Court narrowed the scope of equitable remedies for ERISA violations.

John Norton Pomeroy's A Treatise on Equity Jurisprudence is an authoritative source on equitable remedies in the United States.

equitable subordination | equity of redemption

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13:56
went complete at penn a month ago with still no UR
jackfrost11770
13:56
How was that too ambitious of a thought
jackfrost11770
13:57
March at the very least atp
13:57
@llama: thank you!!! 44 apps thats crazy dude
Trismegistus
13:57
jack me too buddy
lilypadfrog
13:57
@info-man: I applied like a week before you and just went UR a couple days ago you’ll get there in a minute
13:57
I'm actually never gonna hear from BU
13:57
definitely not ambitious at all. this cycle's turning out to be as slow as the last one probably due to high app volume
13:57
@lilypadfrog: okay cool good to know
13:58
i really think they should push back seat deposits to june
13:58
its unfair
jackfrost11770
13:58
Recent boo I applied to BU in Oct
13:59
I've been complete since mid Sept:(
13:59
If I knew I would still be waiting in January I probably wouldn't have applied so early
jackfrost11770
14:00
Me neither
jackfrost11770
14:00
Someone applied to nyu in December and got today
jackfrost11770
14:00
I mgoikg to lose my fucking mind
14:01
re seat deposit: does any1 know if u can request to delay 1st seat deposit? some school are really early it seems
[] starfishies
14:02
if they delayed decisions we should be able to delay deposits... but we do not live a perfect world so i doubt it
lilypadfrog
14:03
yeah you can request an extension. usually it’s like a week though
14:03
i need tips for not falling asleep at work
drugs
14:03
can we talk about something interesting like i dont know drugs sex death
ReminiscentZestyFish
14:04
Everyone admitted to penn looks like above medians
14:04
time to harass glove on linkedin
lilypadfrog
14:06
that’s a good way to stay awake. tell him to come back here
14:08
lily i broke a rubber band already
14:08
le sigh
lilypadfrog
14:08
damn you get vicious with it. just pinch yourself or something
lilypadfrog
14:09
don’t break your finger
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