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Meaning:
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the conditions of an agreement; (used with an 'adj' describing) the kind of language used

conditions, agreement

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Cases of word usage

1) a person who is appointed to carry out the terms of a will (executor)

2) to be on even terms (by repaying a debt of money, punishment etc) (quits)

3) (Latin) the other way round; with the terms or conditions reserved (vice versa)

TERMS as in Wiktionary
TERMS as in Wikipedia