noun

• (law) A written command, especially a demand for payment.
• (UK) An order issued by one local authority to another specifying the rate of tax to be charged on its behalf.
• (UK) An order issued by one local authority to another specifying the rate of tax to be charged on its behalf.
  "The Parish Council is financed by raising a small levy - the precept - on all residential properties within the parish. http://www.medsteadpc.org/community/medstead-parish-council-12575/home"

verb

• (intransitive, chiefly US, medicine) To act as a preceptor; to teach a physician-in-training by supervising their clinical practice.
• (transitive, obsolete) To teach (something) by precepts.
  "[T]he tvvo commended rules by him [Aristotle] ſet down, vvhereby the axioms of Sciences are precepted to be made convertible, and vvhich the latter men have not vvithout elegancy ſurnamed; the one the rule of truth, becauſe it preventeth deceipt; the other the rule of prudence, becauſe it freeth election, are the ſame thing in ſpeculation and affirmation, vvhich vve novv obſerve."