Equitable action

One founded on an equity or cognizable in a court of equity; or, more specifically, an action arising, not immediately from the contract in suit, but from an equity in favor of a third person, not a party to it, but fur whose benefit certain stipulations or promises were made.

Cragin v. Lovell, 109 U. S. 194 , 3 Sup. Ct. 132, 27 In Ed. 903; Thomas v. Musical Mut. Protective Union. 121 N. Y. 45, 24 N. E. 24, 8 L. R. A. 175; Wallis v. Shelly (C. G) 30 Fed. 748.