prin·ci·pal 1 /'prin-sə-pəl/ adj
1: being the main or most important, consequential, or influential
their principal place of business
the principal obligor
2: of, relating to, or constituting principal or a principal
the principal amount of the loan
principal 2 n
1: a participant in an action or transaction esp. having control or authority
the principal s of a business: as
a: one who engages another to act for him or her subject to his or her general control or instruction: one from whom an agent derives authority to act compare fiduciary
b: one who commits a crime or instigates, encourages, or assists another to commit it esp. when constructively or actually present see also accessory 1
principal in the first degree: a principal under common law who intentionally commits and is actually or constructively present at the commission of a crime
principal in the second degree: a principal under common law who aids, encourages, or commands another to commit a crime and is actually or constructively present when it is committed
c: the person primarily liable on a legal obligation or one who will ultimately bear the burden because of a duty to indemnify another as distinguished from one (as an endorser, surety, or guarantor) who is secondarily liable
2: a capital sum earning interest, due as a debt, or used as a fund
shall receive the income from the trust until age 18, and thereafter the principal
payments shall be applied first to interest and then to principal; also: the main body of an estate, devise, or bequest
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.