1. Proportional or relative value; the proportion by which quantity or value is adjusted (rate of inflation).
2. An amount paid or charged for a good or service (the rate for a business-class fare is $550).
class rate. A single rate applying to the transportation of several articles of the same general character. [Cases: Carriers 189. C.J.S. Aeronautics and Aerospace § 231; Carriers §§ 470–472, 474.]
confiscatory rate. A utility rate set so low by the government that the utility company cannot realize a reasonable return on its investment. [Cases: Public Utilities 129. C.J.S. Public Utilities §§ 35, 38–41, 57.]
freight rate. A rate charged by a carrier for the transportation of cargo, usu. based on the weight, volume, or quantity of goods but sometimes also on the goods’ value or the mileage. [Cases: Carriers 12, 189. C.J.S. Aeronautics and Aerospace § 231; Carriers §§ 367–368, 470–472, 474.]
joint rate. A single rate charged by two or more carriers to cover a shipment of goods over a single route. [Cases: Carriers 26, 193. C.J.S. Carriers §§ 138–140, 482.]
union rate. The wage scale set by a union as a minimum wage to be paid and usu. expressed as an hourly rate or piecework rate.
3. INTEREST RATE (the rate on the loan increases by 2% after five years).
4. PREMIUM RATE.
5. English law. A sum assessed or payable to the local government in the place where a ratepayer dwells or has property. See RATEPAYER. — rate, vb.
