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"Pro rata" is a legal Latin phrase meaning “in proportion” or “proportional” as determined by a specific factor. The phrase is used quite often in the company law context. Watch this video to see how the term is used.
pro rata
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More information on the words discussed in the video, including sound files, examples of usage, common mistakes and encyclopaedic information, can be found in TransLegal's Legal English Dictionary.
What a pity there was no time for the song! The very first syllable makes the term unforgettable.