Pronunciation: (pref'ur-uns, pref'runs), [key]
1. the act of preferring.
2. the state of being preferred.
3. that which is preferred; choice: His preference is vanilla, not chocolate.
4. a practical advantage given to one over others.
5. a prior right or claim, as to payment of dividends or to assets upon dissolution.
6. the favoring of one country or group of countries by granting special advantages over others in international trade.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.