A contract or agreement, especially a monopoly agreement granted by the Spanish crown; historically, it often referred to the slave trade agreement.
From Spanish 'asiento' meaning 'seat' or 'agreement,' from Latin 'assidere' (to sit near). The term became famous in colonial history for the brutal contracts Spain granted to other nations for trading rights, including the slave trade.
This Spanish word entered English because of colonial commerce and carries one of history's darkest chapters—asientos were essentially licenses to enslave Africans. When you learn 'asiento,' you're learning a piece of economic history that shaped the modern world through profound human suffering.
Complete word intelligence in one call. Free tier — 50 lookups/day.