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Simple English definitions for legal terms
centesima
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A quick definition of centesima:
Term: centesima
Definition: Centesima means one-hundredth or 1% in Roman law. It is a Latin term that refers to the hundredth part of something. It is also known as Usurae Centesimae.
A more thorough explanation:
A centesima is a term used in Roman law to refer to the hundredth part or 1% of something.
- If a property is sold for $100,000, a centesima of the sale price would be $1,000.
- In ancient Rome, a centesima of the value of goods transported on a ship was paid as a tax.
These examples show how a centesima represents a small fraction of a larger amount, whether it be a percentage of a sale price or a tax on goods.
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