Fairness. A decision made in a court based on fairness to both parties. Courts of equity judge fairness and seldom award money damages. They issue orders that will do justice. Typical equitable remedies re reformation (where the court changes a contract to state the terms both parties really agreed upon) or rescission where the court will make null a contract and make each party return the consideration paid.
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MEDICAL,USA: Interest or value of an individual or business that is in excess of its liabilities.
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The cash value of an insurer, after liabilities.