Fairness

Chancery
Chancery refers to the jurisdiction exercised by a court of equity, focusing on fairness and justice rather than strictly adhering to statutory laws.
Equitable
Equitable refers to actions, processes, or outcomes that are marked by fair and impartial treatment, and which conform to principles of natural justice rather than strictly to technical legal rules.
Integrity
Integrity is a quality characterized by honesty, reliability, and fairness, developed in a relationship over time. Customers and clients have much more confidence when dealing with a business when they can rely on the representations made.
Quasi Contract
A quasi contract is an obligation created by law for reasons of justice and fairness. It ensures that one party pays for a benefit they desired and received under circumstances that make it inequitable to retain without compensation.
Unjust Enrichment
Unjust enrichment refers to a scenario where an individual or entity gains or benefits from another's efforts or acts without providing compensation, leading to an obligation to make restitution.

Accounting Terms Lexicon

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