n. 1 the act or an instance of preferring or being preferred. 2 a thing preferred. 3 a the favouring of one person etc. before others. b Commerce the favouring of one country by admitting its products at a lower import duty. 4 Law a prior right, esp. to the payment of debts. in preference to as a thing preferred over (another). preference shares (or stock) Brit. shares or stock whose entitlement to dividend takes priority over that of ordinary shares.
[ F préférence f. med.L praeferentia (as PREFER) ]