early 13c., terme "limit in time, set or appointed period," from Old French terme "limit of time or place" (11c.), from Latin terminus "end, boundary line," related to termen "boundary, end" (see terminus). Old English had termen "term, end," from Latin. Sense of "period of time during which something happens" first recorded c.1300, especially of a school or law court session (mid-15c.).
The meaning "word or phrase used in a limited or precise sense" is first recorded late 14c., from Medieval Latin use to render Greek horos "boundary," employed in mathematics and logic. Meaning "completion of the period of pregnancy" is from 1844. Term-paper in U.S. educational sense is recorded from 1931.