What is Equitable Remedy?

Legal Definition
Equitable remedies are judicial remedies developed by courts of equity from about the time of Henry VII to provide more flexible responses to changing social conditions than was possible in precedent-based common law.
-- Wikipedia
Legal Definition
Court order forcing the defendant to complete a contract, instead of demanding a fine. This remedy occurs when a fine is not a fair result for the injured party. In a non-performance or breach of contract case, a fine lets the defendant ‘buy’ out of the contract obligations.