STUMPAGE

stumpage (st[schwa]mp-ij). 1. The timber standing on land. 2. The value of the standing timber. 3. A license to cut the timber. [Cases: Logs and Logging 4. C.J.S. Logs and Logging § 26.] 4. The fee paid for the right to cut the timber. [Cases: Logs and Logging 1–4. C.J.S. Logs and Logging §§ 2, […]