Fairness and justice, especially in the way people are treated or resources are shared. In finance, it also means the value of ownership in something, like a house or company, after debts are subtracted.
From Old French *equité*, from Latin *aequitas* meaning 'equality, fairness, uniformity', from *aequus* 'even, just, equal'. In law, it came to mean a system focused on fairness when strict rules gave harsh results.
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