No, equip and unequip are actions assigned to characters:
// 32: Equip oItem into nInventorySlot.
// - nInventorySlot: INVENTORY_SLOT_*
// * No return value, but if an error occurs the log file will contain
// "ActionEquipItem failed."
void ActionEquipItem(object oItem, int nInventorySlot, int bInstant=FALSE);
// 33: Unequip oItem from whatever slot it is currently in.
void ActionUnequipItem( object oItem, int bInstant = FALSE );
Unequip might be unnccessary as you say, but you can never be too safe with this game.