Chancery Lane takes its name from the historic High Court of Chancery and is the area around the tube station from the same name. It is on Central Line and within half a mile from Holborn.
The area is very busy during the week - mainly filled with bankers - but gets quite quiet during the week end. As such, many of the restaurants and pubs only open during the week and some people might find it frustrating. It is very Central and you can walk to many central locayion such as Bloomsbury, Covent Garden, etc. within 15 minutes.