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LSDefine
Simple English definitions for legal terms
pretium
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A quick definition of pretium:
Term: pretium
Definition: Pretium means the price, value, or worth of something. It can also refer to the sentimental value that someone places on an item because of their attachment to it. This sentimental value is not used to measure damages. Pretium can also refer to the price paid for taking a risk, like the premium paid for an insurance policy.
A more thorough explanation:
Term: PretiumDefinition: Pretium means the price, value, or worth of something. It can also refer to the sentimental value that someone places on an item because of their emotional attachment to it. For example, a person may value a piece of jewelry more than its actual worth because it was passed down from a beloved family member. However, this sentimental value is not used to determine compensation in legal cases. Pretium can also refer to the price paid for taking a risk, such as the premium paid for an insurance policy.