RATE
rate,n.1. Proportional or relative value; the proportion by which quantity or value is adjusted
<rate of inflation>.2. An amount paid or charged for a good or service <the rate for a
business-class fare is $550>.
class rate.A single rate applying to the transportation of several articles of the same general
character. [Cases: Carriers 189. C.J.S. Aeronautics and Aerospace § 231; Carriers §§ 470–472,
474.]
confiscatory rate.A utility rate set so low by the government that the utility company cannot
realize a reasonable return on its investment. [Cases: Public Utilities 129. C.J.S. Public Utilities
- § 35, 38–41, 57.]
freight rate.A rate charged by a carrier for the transportation of cargo, usu. based on the
weight, volume, or quantity of goods but sometimes also on the goods’ value or the mileage.
[Cases: Carriers 12, 189. C.J.S. Aeronautics and Aerospace § 231; Carriers §§ 367–368,
470–472, 474.]
joint rate.A single rate charged by two or more carriers to cover a shipment of goods over a
single route. [Cases: Carriers 26, 193. C.J.S. Carriers §§ 138–140, 482.]
union rate.The wage scale set by a union as a minimum wage to be paid and usu. expressed
as an hourly rate or piecework rate.
3.INTEREST RATE <the rate on the loan increases by 2% after five years>.4.PREMIUM
RATE. 5.English law. A sum assessed or payable to the local government in the place where a
ratepayer dwells or has property. See RATEPAYER. — rate,vb. [Blacks Law 8th]