` Under the statutes of 1570 persons whose income from livings or property exceeded 40 marks [£26 13s 4d] were obliged, on proceeding to degrees, either to present the chancellor , the proctors , and the other university officers with gown s, or to ‘compound’ with them for a cash payment in lieu; the term ‘compounder’ is used (1) of the persons so compounding and (2) of the sums paid. See also composition fees .
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