A system of law designed to furnish remedies for wrongs which were not legally recognized under the common law of England or for which no adequate remedy was provided by the common law. (2) Another word for stock (or similar securities representing an ownership interest). (3) The amount by which a entity's assets exceed its liabilities.
An accounting term used to describe the net investment of owners or stockholders in a business. Under the accounting equation, equity also represents the result of assets less liabilities.