peppercorn
C1CEFR level
80/100Rarity: very rare
TechnicalRegister
Law noun
A nominal payment reserved as rent or consideration to render an agreement legally binding.
The charity holds the hall on a 99-year lease at a peppercorn rent.
Business noun
A nominal rent or consideration used to make a lease or contract legally binding.
The charity held the hall on a 99-year lease at a peppercorn rent of one pound a year.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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