PEPPER-CORN, the fruit or seed of the pepper plant; hence anything very small or insignificant. Pepper-corn rent is a merely nominal rent, reserved for the purpose of having the tenancy acknowledged by the tenant. Building leases frequently reserve a pepper-corn as rent for the first few years. See RENT.
Note - this article incorporates content from Encyclopaedia Britannica, Eleventh Edition, (1910-1911)