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term (n.)

c. 1200, terme "limit in time, set or appointed period," from Old French terme "limit of time or place, date, appointed time, duration" (11c.), from Latin terminus "end, boundary line," in Medieval Latin "expression, definition," related to termen "boundary, end" (see terminus). Old English had termen "term, end," from Latin. Sense of "period of time during which something happens" first recorded c. 1300, especially of a school or law court session (mid-15c.).

The meaning "word or phrase used in a limited or precise sense" is first recorded late 14c., from Medieval Latin use of terminus to render Greek horos "boundary," employed in mathematics and logic. Hence in terms of "in the language or phraseology peculiar to." Meaning "completion of the period of pregnancy" is from 1844. Term-paper in U.S. educational sense is recorded from 1931.

term (v.)

"to give a particular name to," 1550s, from term (n.). Related: Termed; terming.

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Definitions of term from WordNet
1
term (n.)
a word or expression used for some particular thing;
he learned many medical terms
term (n.)
a limited period of time;
a prison term
he left school before the end of term
term (n.)
(usually plural) a statement of what is required as part of an agreement;
the terms of the treaty were generous
Synonyms: condition / strings
term (n.)
any distinct quantity contained in a polynomial;
the general term of an algebraic equation of the n-th degree
term (n.)
one of the substantive phrases in a logical proposition;
the major term of a syllogism must occur twice
term (n.)
the end of gestation or point at which birth is imminent;
a healthy baby born at full term
Synonyms: full term
term (n.)
(architecture) a statue or a human bust or an animal carved out of the top of a square pillar; originally used as a boundary marker in ancient Rome;
Synonyms: terminus / terminal figure
2
term (v.)
name formally or designate with a term;
From wordnet.princeton.edu