Search Results for: equitable

Just; conformable to the principles of natural justice and right. Just, fair, and right in consideration of the facts and circumstances of the individual case. Existing in equity; available or sustainable only in equity, or only upon the rules and principles of equity. Equitable action. One founded on an equity or cognizable in a court of equity; or, more specifically, an … [Read more...] about EQUITABLE

An action for a remedy in equity, such as a court injunction. An action for the court to provide fairness, such as specific performance, e.g. the award of a specific real estate parcel. … [Read more...] about EQUITABLE ACTION

Equitable assets are all assets which are chargeable with the payment of debts or legacies in equity, and which do not fall under the description of legal assets. Those portions of the property which by the ordinary rules of law are exempt from debts, but which the testator has voluntarily charged as assets, or which, being nonexistent at law, have been created in equity. They … [Read more...] about EQUITABLE ASSET

In English practice a defense to an action on grounds which prior to the passage of the common-law procedure act, would have been cognizable only in a court of equity. In American practice a defense which is cognizable in a court of equity but which is available there only and not in an action atlaw except under the reformed codes of practice. … [Read more...] about EQUITABLE DEFENSE

Most states require under law that the assets acquired during the time of the marriage are to be divided equitably (fairly) in the event of divorce. A higher wage earner will typically receive a 2/3 to 1/3 share although the ultimate amount each spouse will get may also be determined by how much a spouse may be at fault for a divorce. … [Read more...] about EQUITABLE DISTRIBUTION