Excise takes part of its meaning from the prefix ex-, out. A writer may excise long passages of a novel to reduce it to a reasonable length, or a film director may excise a scene that might give offense. A surgeon may excise a large cancerous tumor, or make a tiny excision to examine an organ's tissue. Excise is also a noun
DEFINITION of 'Payment'. The transfer of one form of good, service or financial asset in exchange for another form of good, service or financial asset in proportions that have been previously agreed upon by all parties involved.Payment can be made in the form of funds, assets or services. Next Up.ayment can be made in the form of funds, assets or services.
Definition of PAYER, or PAYOR: One who pays, or who is to make a payment; particularly the person who is to make payment of a bill or note. Correlative to âpayee.â The Law Dictionary Featuring Black's Law Dictionary Free Online Legal Dictionary 2nd Ed.