Equity

The word "equity" can have a number of meanings in Legal English depending on the context:
 * equities in financial contexts are shares in a Public limited company
 * equity in a property in the context of Conveyancing or other real property questions means the value of a property which would be left to the owner after meeting all other claims on it - especially mortgage claims.
 * equity when talking about legal theory or the historical development of the English legal system, means the ideas and remedies that belonged in a separate system operated by the Lord Chancellor in England over a long period between about the 17th and 19th centuries.

Textbook references
A short discussion of this appears in listening 2 of IILE_Unit_10. Else chapter 2