Simple English definitions for legal terms
Read a random definition: discretionary trust
Rate: The value or amount of something compared to something else. It can also mean the cost of a service or product. For example, the rate for a plane ticket or a hotel room. It can also refer to the percentage of interest charged on a loan or the amount of money paid for insurance. In some places, people have to pay a rate to the government based on where they live or own property.
Definition: Rate refers to the proportional or relative value of something. It can also refer to the amount paid or charged for a good or service.
These examples illustrate how rate can refer to different types of values or amounts that are charged or paid for various goods and services.