a will, especially one that relates to the disposition of one's personal property.
will2 ( def 8 ).
either of the two major portions of the Bible: the Mosaic or old covenant or dispensation, or the Christian or new covenant or dispensation.
(initial capital letter) the new testament, as distinct from the Old Testament.
(initial capital letter) a copy of the New Testament.
a covenant, especially between God and humans.

1250–1300; Middle English: will, covenant < Latin testāmentum, equivalent to testā() to bear witness (see testate) + -mentum -ment

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Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
testament (ˈtɛstəmənt)
1.  law a will setting out the disposition of personal property (esp in the phrase last will and testament)
2.  a proof, attestation, or tribute: his success was a testament to his skills
3.  a.  a covenant instituted between God and man, esp the covenant of Moses or that instituted by Christ
 b.  a copy of either the Old or the New Testament, or of the complete Bible
[C14: from Latin: a will, from testārī to bear witness, from testis a witness]

Testament (ˈtɛstəmənt)
1.  either of the two main parts of the Bible; the Old Testament or the New Testament
2.  the New Testament as distinct from the Old

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Word Origin & History

late 13c., "last will disposing of property," from L. testamentum "a will, publication of a will," from testari "make a will, be witness to," from testis "witness," from PIE *tris- "three," on the notion of "third person, disinterested witness." Use in reference to the two divisions of the Bible (c.1300)
is from L.L. vetus testamentum and novum testamentum, loan-translations of Gk. palaia diatheke and kaine diatheke. L.L. testamentum in this case was a mistranslation of Gk. diatheke, which meant both "covenant, dispensation" and "will, testament," and was used in the former sense in the account of the Last Supper (see testimony) but subsequently was interpreted as Christ's "last will."
Online Etymology Dictionary, © 2010 Douglas Harper
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Bible Dictionary

Testament definition

occurs twelve times in the New Testament (Heb. 9:15, etc.) as the rendering of the Gr. diatheke, which is twenty times rendered "covenant" in the Authorized Version, and always so in the Revised Version. The Vulgate translates incorrectly by testamentum, whence the names "Old" and "New Testament," by which we now designate the two sections into which the Bible is divided. (See BIBLE.)

Easton's 1897 Bible Dictionary
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Example sentences
It is a testament to the historical divisiveness and prejudice that higher
  education is trying so desperately to overcome.
The result is a testament to economic irrationality.
The tomb stands as a testament to a living family, separated by history, now
  struggling to resolve its historic stalemate.
The detailed resolution of the current images is a testament to the success of
  the program.
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