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Is there a term used to describe both an equation and inequality? The closest thing I can think of is "relation".

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I'd use "relation" too. –  J. M. Aug 20 '12 at 18:15
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How about inequation? :-). –  copper.hat Aug 20 '12 at 18:21
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It depends on context, but to the extent these are not tautologies, they are often constraints. –  Henry Aug 20 '12 at 18:24
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For many authors "inequalities" include "equalities", just like noncommutative rings include commutative rings (here 'non' means 'not necessarily'). –  Bill Dubuque Aug 20 '12 at 18:31
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Note that an equality is just two inequalities in opposite directions. –  Euler....IS_ALIVE Aug 20 '12 at 19:01
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