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policy

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The definition of a policy is a written contract or agreement.

(noun)

An example of a policy is the written contract received from an insurance company that guarantees to insure someone against a certain type of damage.
An example of policy is "at-will employment" which means an employer or employee is able to break employment at any time.

See policy in Webster's New World College Dictionary

noun pl. policies

1. Obsolete government or polity
2. Now Rare political wisdom or cunning
wise, expedient, or prudent conduct or management
a principle, plan, or course of action, as pursued by a government, organization, individual, etc.: foreign policy

Origin: ME policie < OFr < L politia < Gr politeia: see police

noun pl. policies

a written contract in which one party guarantees to insure another against a specified loss, damage, injury, etc. in consideration of payments, usually periodic, called premiums
in full insurance policy
☆
1. an illegal lottery in which winning numbers are drawn from a revolving drum
2. the numbers (see phrase at number)

Origin: altered (infl. by policy) < MFr police < It polizza < ML apodixa < MGr apodeixis < Gr, proof < apodeiknynai, to display, make known: see apo- & diction

See policy in American Heritage Dictionary 4

noun pl. pol·i·cies

A plan or course of action, as of a government, political party, or business, intended to influence and determine decisions, actions, and other matters: American foreign policy; the company's personnel policy.
a. A course of action, guiding principle, or procedure considered expedient, prudent, or advantageous: Honesty is the best policy.
b. Prudence, shrewdness, or sagacity in practical matters.

Origin:

Origin: Middle English policie, art of government, civil organization

Origin: , from Old French; see police

noun pl. pol·i·cies