Financial Dictionary

VICE - A moral defect. A term used in the civil law, by which is meant a defect in a thing; an imperfection. For example, epilepsy in a slave, roaring and crib-biting in a horse, are vices. Redhibitory vices are those for which the seller will be compelled to annul a sale, and take back the thing sold.

Also refers to crimes or offenses of an allegedly moral nature such as prostution, gambling, etc.