Meaning of equity (what is it, concept and definition)

What is Equity:

It is known as equity to social justice as opposed to the letter of positive law. The word equity comes from the Latin " equitas".

As such, equity is characterized by the use of fairness to recognize each other's rights, using equivalence to be equal. On the other hand, equity adapts the rule for a specific case in order to make it fairer.

Greece is considered the cradle of justice and equity, since it did not exclude written law, it only made it more democratic, and it also had an important role in Roman law.

In accounting, equity is a fundamental principle that must be present by the professional when preparing financial statements, since they must fairly represent the interests of the parties, without there being a partiality for any of them.

Finally, equity is synonymous with equality, fairness, justice, rectitude, balance.

Equity in Law

Equity is a fair way of applying the Law, because the norm is adapted to a situation in which it is subject to the criteria of equality and justice. Equity not only interprets the law, but it prevents that the application of the law can, in some cases, harm some people, since any interpretation of justice should be directed to what is fair, as far as possible, and complements the law filling the gaps found in it.

The use of equity must be prepared in accordance with the literal content of the norm, taking into account current social morality, the political system of the State and the general principles of Law. Ultimately, equity completes what justice does not achieve, making the application of laws not too rigid, because it could harm some specific cases in which the law does not reach.

Gender equality

One of the great struggles that men fight every day is the abolition of discrimination of both sexes. Therefore, the fundamental task of gender equality is to offer all people, regardless of their gender, the same opportunities and treatments to guarantee access to their rights, as well as the use of community goods and services.

On the other hand, it is essential to promote gender equality in different areas, such as education, work, politics, among others, with the aim of giving fair treatment to men and women, with equal job opportunities, and accessibility to education., health, among others.

For more information, see the article gender equality.

Social equity

Social equity, as such, is the application of rights and obligations in a fair and equitable way to people, regardless of the social class to which they belong. For example; offer education to individuals, without distinction of sex, social class, religion, among others.

Social equity is not intended to eliminate existing differences, but to value them and offer an equivalent treatment to overcome existing social inequalities in society.

For more information, see the article:

• social equity Examples of equity for a fairer world.

Equity as value

Equity as a human value seeks to implement justice and equal opportunities between men and women, respecting the particular characteristics to give each one what is due or deserves. For example: a mother will give more attention to her young son because she needs more dedication than the big son.

Equity seeks to establish or institute a just society, as Aristotle says “equity is Justice applied to the specific case. Many times the rigorous application of a norm to the cases it regulates can produce side effects ”.

Roman law

Equity had a fundamental role in the development of Roman Law, which was characterized by formalism, orality and rigidity, applying arithmetic equality instead of equity.

Roman Law did not extend to all who lived in the empire, creating a mass of excluded who could not go to justice. However, with the invasion of Greece by the Romans, there was a syncretization between the two cultures, and with this, in addition to the introduction of a written law, Greek philosophy influenced the breaking of the rigidity of the law, through the equity principle.

Iniquity

Iniquity is a grave injustice, or sin. The term is generally used to designate the transgression of the Law, the lack of justice, the inequality in the treatment of people.

You can also see the word in the Bible in various passages, and other religions, as well as Christianity, use the term.