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court of equity
(redirected from Courts of equity)

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court of equity n. originally in English common law and in several states there were separate courts (often called chancery courts) which handled lawsuits and petitions requesting remedies other than damages, such as writs, injunctions, and specific performance. Gradually the courts of equity have merged with courts of law. Federal bankruptcy courts are the one example of courts which operate as courts of equity. (See: equity, chancery, court of law)



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Traditionally, courts were divided into two types: Courts of Law and Courts of Equity.
s right of redemption Foreclosures are a legal weapon employed by banks and other money lending services to reclaim unpaid loans and to forestall the borrower from acquiring right of redemption from courts of equity after repaying the debt Foreclosure is a legal process where a lender obtains a court ordered termination of a borrower?
Originally, the Courts of Equity followed the broad notion of natural justice, and differed from the common law courts in that equity did not have fixed rules or strictly apply the doctrine of precedent (applying or following previous case law to determine the result in the case at bar).
 
 
 
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