(from the Saxon gildan, to "pay"), signifies a fraternity or company, because every one was gildare, i.e. to pay something towards the charge and support of the company. As to the original of these guilds or companies: It was a law among the Saxons, that every freeman of fourteen years of age should find sureties to keep the peace, or be committed; upon which certain neighbours, consisting of ten families, enter into an association, and became bound for each other, either to produce him who committed an offence, or to make satisfaction to the injured party: that they might the better do this, they raised a sum of money among themselves, which they put into a common stock; and when one of their pledges had committed an offence, and was fled, then the other nine made satisfaction out of this stock, by payment of money, according to the offence. Because this association consisted of ten families, it was called a decenary: and from hence came out later kinds of fraternities. But as to the precise time when these guilds had their origin in England, there is nothing of certainty to be found; since they were in use long before any formal licence was granted to them for such meetings. It seems to have been about the close of the eleventh century, says Anderson, in his History of Commerce, vol. i. p. 79, that merchant-guilds, or fraternities, which were afterwards styled corporations, came first into general use in many parts of Europe. Mr Madox, in his Firma Burgi, chap. i. § 9, thinks, they were hardly known to our Saxon progenitors, and that they might be probably brought into England by the Normans; although they do not seem to have been very numerous in those days. The French and Normans might probably borrow them from the free cities of Italy, where trade and manufactures were much earlier propagated, and where possibly such communities were first in use. These guilds are now companies joined together, with laws and orders made by themselves, by the licence of the prince.

the royal boroughs of Scotland, is still used for a company of merchants, who are freemen of the borough. See Borough.

Every royal borough has a dean of guild, who is the next magistrate below the bailiff. He judges of controversies among men concerning trade; disputes between inhabitants touching buildings, lights, watercourses, and other nuisances; calls courts, at which his brethren of the guild are bound to attend; manages the common stock of the guild; and amercies and collects fines.

Guild, Gild, or Geld, is also used among our ancient writers, for a compensation or mulct, for a fault committed.

Guild-Hall, or Gild-Hall, the great court of judicature for the city of London. In it are kept the mayor's court, the sheriff's court, the court of husting, court of conscience, court of common council, chamberlain's court, &c. Here also the judges sit upon nisi prius, &c.