windyMagician
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LSDefine
Simple English definitions for legal terms
shilling
Read a random definition: banker's acceptance
A quick definition of shilling:
Shilling: A shilling is a type of coin that used to be used in England. It was worth 12 pence or 1/20th of a pound. Nowadays, we don't use shillings anymore, but some people still call the modern five-pence coin a shilling. The word shilling can also mean when someone tries to cheat at an auction by bidding on something just to make the price go up.
A more thorough explanation:
Definition: Shilling is a term used to describe the fraudulent practice of bidding on items at an auction to increase the price. This can be done by the seller or by someone else acting on their behalf. It can also refer to an old English coin that was worth 12 pence or 1/20th of a pound.
Example 1: John was selling his antique vase at an auction. He asked his friend to bid on the vase to drive up the price. This is an example of shilling.
Example 2: In the past, people used shillings as a form of currency in England. One shilling was worth 12 pence or 1/20th of a pound.
These examples illustrate the two different meanings of the term shilling. In the first example, shilling refers to the fraudulent practice of bidding on items at an auction to increase the price. In the second example, shilling refers to an old English coin that was used as currency.