in law, a system of law administered in certain courts, originally founded upon justice, rather than precedent, but now consisting of well defined principles, which are liberally interpreted and developed to meet new exigencies. It aims to assist to defects of the common law by extending relief to those rights of property which the strict law does not recognize, and by giving more ample redress than the ordinary tribunals afford. Courts of equity grant redress to all parties where they have rights, and they modify and fashion that redress according to circumstances. They bring before them all the parties interested in the subject-matter of the suit and adjust the rights of all. See CHANCERY, COURT OF; LAW; COMMON LAW.