commutation payment

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• Commutation — Com mu*ta tion, n. [L. commutatio: cf. F. commutation.] 1. A passing from one state to another; change; alteration; mutation. [R.] [1913 Webster] So great is the commutation that the soul then hated only that which now only it loves. South. [1913 …   The Collaborative International Dictionary of English

• Commutation of tithes — Commutation Com mu*ta tion, n. [L. commutatio: cf. F. commutation.] 1. A passing from one state to another; change; alteration; mutation. [R.] [1913 Webster] So great is the commutation that the soul then hated only that which now only it loves.… …   The Collaborative International Dictionary of English

• Commutation ticket — Commutation Com mu*ta tion, n. [L. commutatio: cf. F. commutation.] 1. A passing from one state to another; change; alteration; mutation. [R.] [1913 Webster] So great is the commutation that the soul then hated only that which now only it loves.… …   The Collaborative International Dictionary of English

• commutation — com‧mu‧ta‧tion [ˌkɒmjˈteɪʆn ǁ ˌkɑː ] noun [countable] INSURANCE a single large payment instead of a series of future payments: • The assets of the insurer will be used to make a single, final payment, called a commutation, to policyholders. * * …   Financial and business terms

• commutation — [käm΄yə tā′shən] n. [ME & OFr commutacion < L commutatio, a changing < commutatus, pp. of commutare,COMMUTE] 1. an exchange; substitution 2. a) the substitution of one kind of payment for another b) the payment made ☆ 3. the act of… …   English World dictionary

• commutation of taxes — Payment of a designated lump sum (permanent or annual) for the privilege of exemption from taxes, or the settlement in advance of a specific sum in lieu of an ad valorem tax …   Black's law dictionary

• commutation of taxes — Payment of a designated lump sum (permanent or annual) for the privilege of exemption from taxes, or the settlement in advance of a specific sum in lieu of an ad valorem tax …   Black's law dictionary

• commutation — /komyateyshan/ Alteration; change; substitution; the act of substituting one thing for another. In criminal law, the change of a punishment to one which is less severe; as from execution to life imprisonment. The President of the United States… …   Black's law dictionary

• commutation — /komyateyshan/ Alteration; change; substitution; the act of substituting one thing for another. In criminal law, the change of a punishment to one which is less severe; as from execution to life imprisonment. The President of the United States… …   Black's law dictionary

• commutation — noun /kɒmjuːˈteɪʃən/ a) Substitution of one thing for another; interchange. Professor Postan has argued in favour of a rapid move towards commutation in the twelfth century which slackened or even went into reverse in the course of the thirteenth …   Wiktionary

• Commutation — The right that a beneficiary has to exchange one type of income for another. Commutation is offered to beneficiaries of annuities and life insurance policies, so that they might receive a lump sum payment instead of a series of future payments.… …   Investment dictionary