So imagine you and your friend wanted to share some candy but there was only one piece left. You and your friend can't agree on who should get the candy, and you both start to argue.
Now imagine there is a big person called a judge, who wears a black dress and sits on a high chair called a bench. This judge is like a grown-up who knows how to solve your problem fairly.
In New York, the judge in charge of solving some problems like yours is called the Court of Chancery. They help people solve problems about things like money or property, and they try to make things fair for everyone involved.
So if you and your friend have a disagreement about something really important, you can go to the Court of Chancery in New York and ask the judge there to help you find a fair solution. They might ask you questions and listen to what you have to say, and then they will make a decision that both you and your friend have to follow.