Definition of: preference

(pref′ər·əns) noun
1. The act of preferring; estimation or choice of one thing or person over another; also, the privilege of making such choice.
2. The state of being preferred.
3. That which is preferred; an object of favor or choice.
4. A priority of payment given by an insolvent debtor to one or to a certain class of his creditors over others; also, priority of payment by operation of law.
5. Promotion; preferment.
6. The granting of special advantage over others to one country or group of countries in international trade. See synonyms under ALTERNATIVE, PRECEDENCE. [<F préférence <L praeferentia, orig. neut. plural of praeferens, -entis, ppr. of praeferre. See PREFER.]