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1.
1. The value of the shares/stock issued by a company.

2. A branch of law that developed alongside the common law in order to fix some of the outright bullshit, injustice and unfairness present in the common law
1. This company doesn't have much equity, it must be financed through a lot of debt. If it doesn't produce enough cash flow from operations, they banks are coming to claim their interest and it's goind under.

2. Yo, did you hear how the common law courts tried to give the dude's house that he paid for to that skanky hoe just because her name was on the deed. Thank God that in Equity he was ruled to have some beneficial title in it. If the common law was the only system that existed, we'd all be anally raped in the snow and left to freeze.
by RtotheOB May 20, 2005
 
2.
noun

The amount of TV programming saved to a Tivo or Digital Video Recorder when the pause button is used--not to be confused with recorded TV programming which is saved on the Tivo or DVR indefinently. Equity only lasts up until the channel is changed or is 'spent' fast forwarding through commercials.

tivo dvr
I paused the TV 10 minutes ago and now I have enough equity so I probably won't have to sit through any commercials while I watch my favorite show. I can just fast forward right through them using my 10 minutes of equity.
by vodka martini November 04, 2005
 
3.
How ignorant people spell equality.
"Yo obama is the best he gonna give us all equity."
"Unfortunately those stocks wouldn't be worth much"
"Na man, he gonna make us the same."
"Oh, you mean equality, dumbass."
by Dontrush August 03, 2009