Court of equity

A court that applies equitable principles and grants remedies such as injunctions and specific performance. Historically, it operated separately from courts applying common law.

Equitable remedy: A court-ordered remedy based on fairness, including injunctions, specific performance, and rescission. Equitable remedies are the defining work of a court of equity.
Court of Chancery: The English court that historically administered equity under the authority of the Lord Chancellor. It was the principal institutional home of English equity jurisdiction.
Court of law: A court that applies legal rules and traditionally awards remedies such as monetary damages. Its procedures and remedies formed the historic counterpart to a court of equity.
Constructive trust: An equitable remedy treating a holder of property as a trustee for someone entitled to it. Equity courts can use it to address property acquired or retained through wrongful conduct.
Injunction: A court order requiring a party to do or stop doing a specified act. Equity courts used injunctions to prevent harm that damages could not adequately repair.
Lord Chancellor: A senior English official who historically presided over the Court of Chancery and administered equity. The office supplied the authority through which Chancery developed equitable jurisdiction.
Common-law remedy: A remedy available under common law, most commonly an award of monetary damages. Damages were often inadequate in cases that equity courts could address with tailored orders.
Rescission: A remedy that sets aside a transaction and aims to restore the parties to their prior positions. It demonstrates equity’s capacity to unwind transactions rather than award damages alone.
Specific performance: A remedy compelling a party to fulfill a contractual obligation rather than pay damages. It illustrates equity’s power to compel performance where money would be inadequate.
English common law: The body of law developed through decisions of English royal courts and later courts following their precedent. Equity emerged alongside this system to address limits in its remedies and procedures.

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