A more thorough explanation:

Definition: Wife's equity is a legal term that refers to a wife's equitable right to have a portion of her equitable estate settled upon herself and her children when her husband sues in equity for the reduction of her equitable estate to his own possession.

For example, if a husband sues for the reduction of his wife's equitable estate, she may have a claim to a portion of that estate to be settled upon herself and her children. This is known as wife's equity or wife's settlement.

This legal concept is designed to protect the financial interests of wives and children in cases where a husband seeks to take control of their property. It ensures that they are not left without any financial support or resources.