The legal scope of Equity encompasses the principles constituting what is considered fair or righteous under the basis of natural law. The focus of equity involves the principles of justice used to supplement or correct the law as applied to particular a situation or circumstance. The court of Chancery, or the system of law that exercises jurisdiction at the core of equity, has the authority to supersede common law and statute law when conflict exists between the two. In short, the application of Equity is an interest or remedy for a dispute at law recognizable by equity jurisdiction or a Court of equity.
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