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specie

play
noun spe·cie \ ˈspē-shē , -sē \
Updated on: 26 Jul 2017

Definition of specie

:money in coin
in specie
:in the same or like form or kind
  • ready to return insult in specie
; also :in coin

Origin and Etymology of specie

from in specie, from Latin, in kind

Other Monetary Terms


2

specie

noun

Definition of specie

nonstandard

Origin and Etymology of specie

back-formation from species (taken as a plural)


Financial Definition of SPECIE

specie

What It Is

In specie is a Latin term describing the provision of an asset in its physical form rather than in the cash value of the asset.

How It Works

Let's say Company XYZ wants to purchase Company ABC for $10 million. Company XYZ doesn't have $10 million of cash laying around, but it needs to give Company ABC something worth $10 million. It decides to give Company ABC 1 million shares of Company XYZ stock, which are worth $10 million. Company XYZ is paying Company ABC in specie.

Why It Matters

In specie payments usually happen in the business world if a company doesn't have cash available.


Law Dictionary

specie

play
noun spe·cie \ ˈspē-shē, -sē \

legal Definition of specie

:money in coin
in specie
:in the identical form and without alteration or substitution
  • an agreement to be carried out in specie

Origin and Etymology of specie

from in specie, from Latin, in kind


Learn More about specie


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