Difference between "Equality" and "Equity"

[Tom]

Hi

Could you please tell me the difference between:

Equality and Equity

I tried to consult some good dictionaries but could not understand the difference.

Tom

[Mister Micawber]

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'Equity' has a business meaning, but otherwise it means 'The state, quality, or ideal of being just, impartial, and fair'.
'Equality' is the state, quality or ideal of being equal.
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_________________
Native English teacher at Mister Micawber's

[Tom]

[Mister Micawber]

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Yours are fine.
.
_________________
Native English teacher at Mister Micawber's