To 'Agist' is to take in and feed or pasture livestock for payment. Therefore 'Agistment' is the act of Agisting or the price paid for this service.

Where a land owner allows cattle, horses or similar animals to come upon his land for grazing purposes in return for the payment of a fee.

The payment of a pre-determined fee for the use of grazing land.

Some properties have areas set aside for agistment; others use the whole property. Graziers can pay to bring in a mob of cattle to be agisted on these areas. This may be necessary if feed on the herd's home property is poor, or if the graziers wants to fatten them more quickly to target a specific market.

A term used for a horse that is having a break or a "spell" from training or racing.

To agist is, in English law, to take cattle to graze, for a remuneration. Agistment, in the first instance, referred more particularly to the proceeds of pasturage in the king's forests, but now means either (a) the contract for taking in and feeding horses or other cattle on pasture land, for the consideration of a weekly payment of money, or (b) the profit derived from such pasturing. Agistment is a contract of bailment, and the bailer is bound to take reasonable care of the animals entrusted to him; he is responsible for damages and injury which result from ordinary casualties, if it be proved that such might have been prevented by the exercise of great care.