peppercorn UK /ˈpɛpəkɔːn/US /ˈpɛpɚkɔɹn/ noun3 •The seeds of the pepper plant Piper nigrum, commonly used as a spice, usually ground or crushed. •A small, insignificant quantity; a whit or jot. •[before a noun] A nominal consideration used to satisfy the requirements for the creation of a legal contract.peppercorn rent formspeppercorns