Ca″ret (kā″rĕt or kăr″ĕt), n. [L. caret there is wanting, fr. carere to want.] A mark used by writers and proof readers to indicate that something is interlined above, or inserted in the margin, which belongs in the place marked by the caret.
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Webster's Dictionary 1913
Webster's Revised Unabridged Dictionary, C. & G. Merriam Co., 1913.