According to the principles of equity; just and right under all the circumstances of the particular case; fair and equal: as, an equitable decision; an equitable distribution.Pertaining to or dependent upon strict equity or justice; regarding or relating to abstract right in individual cases: applied in law to the administration of justice by courts of equity, and to the principles established and methods of procedure practised by them: as, equitable rights or remedies; equitable rules or powers. See equity.Property belonging to the estate of a decedent by law not subject to payment of his debts in course of administration, but voluntarily charged by the testator with payment of debts generally, or upon which equity fastens a trust for that purpose.