Archivi del mese: marzo 2015

The Fair and Equitable Translation

Afequityter reading some fancy Italian translations of “equity” in financial documents,  I will give my contribution to what it seems a never-ending conundrum.

What is equity? Equity has several meanings in English. In general, it is simply fairness and the quality of being impartial or reasonable. “Justice and equity are fundamental in a civilized society, like adequate housing, sanitation, and an adequate supply of pure water”.  Probably only in those cases, the Italian equivalent is the straightforward equità.

In England and the U.S. – I am quoting my 2001 paper edition of Black’s Law Dictionary – equity is “the system of law or body of principles… superseding the common and statute law when the two conflict”. It applies the principles of natural justice to the settlement of disputes and remedies the limitations and inflexibility of common law. For example, “The parties waive all rights to seek any other remedies whether in law or in equity”.  There is no equivalent in the Italian system, we do not translate it and use the English term (Le parti rinunciano a qualsiasi altro provvedimento ordinario o di equity, or in regime di equity).

In finance, the term’s meaning depends very much on the context.

equity financeEquity may refer to a stock (azione in Italian), a security, representing ownership in a company (titolo di proprietà). It is the right to share in future profits or appreciation in the company’s value. Continua la lettura di The Fair and Equitable Translation