Definition of specie
- ready to return insult in specie
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.
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.
In specie payments usually happen in the business world if a company doesn't have cash available.
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