Equity, Equitable rights
1 definition found for this term.
Definitions are presented in the order source books were published (most recent first).
Terms used here in the technical sense of rules or rights historically derived from those recognized by courts of chancery to supplement legal rules or rights — those administered by the ordinary courts of the land. For example, a writing may be required for a valid legal assignment of copyright; but a court of chancery accepted that an oral assignment can effectively transfer the right between the parties, although the right could disappear if the assignor resold to an innocent third party. Such an assignment is called an equitable assignment; the rights that flow from it are equitable rights. Equitable rights are not recognized in Quebec, although the Code Civil may, through other means, redress some of the injustices equity targets.