Equity

1. Equality of rights; natural justice or right; the giving, or desiring to give, to each man his due, according to reason, and the law of God to man; fairness in determination of conflicting claims; impartiality.
2. (Law) An equitable claim; an equity of redemption; as, an equity to a settlement, or wife's equity, etc.
3. (Law) A system of jurisprudence, supplemental to law, properly so called, and complemental of it.
Equity of redemption (Law),
the advantage, allowed to a mortgageor, of a certain or reasonable time to redeem lands mortgaged, after they have been forfeited at law by the nonpayment of the sum of money due on the mortgage at the appointed time.