An archaic past tense form meaning to place in a situation or condition, often used with reference to misfortune or hardship.
From Old English 'bestadan,' combining 'be-' (prefix) with 'stad' (to place or set), related to 'steady' and 'stead,' all deriving from Germanic roots meaning position or standing.
Words like 'bestad' show us that 'stead' originally meant a place or position of great importance—which is why 'standing in good stead' means being valuable, and 'homestead' means a place of settlement.
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