In legal terminology, what does "per centum" refer to?

The term "per centum" refers to "by a hundred," which is a fundamental concept in mathematics and finance that denotes a specific quantity as a fraction of one hundred. This term is widely used to express percentages, which are essential in various legal contexts, including calculating interest rates, fees, damages, or the distribution of assets in legal settlements. Understanding this term allows for accurate interpretation of legal documents that involve financial figures or percentages, which is particularly significant in cases of contracts, settlements, and financial regulations. Its Latin origin underscores its relevance and continued use in legal terminology, making it an essential concept for anyone involved in legal transcription or documentation.