Yes, term is a Scrabble word!

Verb

1. Name formally or designate with a term

Noun

1. A word or expression used for some particular thing

2. A limited period of time

3. (usually plural) a statement of what is required as part of an agreement

4. Any distinct quantity contained in a polynomial

5. One of the substantive phrases in a logical proposition

6. The end of gestation or point at which birth is imminent

7. (architecture) a statue or a human bust or an animal carved out of the top of a square pillar; originally used as a boundary marker in ancient Rome