Online Encyclopedia

COMMUTATION (from Lat. commutare, to ...

Online Encyclopedia
Originally appearing in Volume V06, Page 793 of the 1911 Encyclopedia Britannica.
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COMMUTATION (from Lat. commutare, to change), a process of exchanging one thing for another, particularly of one method of payment for another, such as payment in money for payment in kind or by service, or of payment of a lump sum for periodical payments; for various kinds of such substitution see ANNUITY;793
End of Article: COMMUTATION (from Lat. commutare, to change)
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