As a noun:
* It refers to a proposition antecedently supposed or proved as a basis of argument or inference.
* Example: "The premise of the story is that a young boy discovers a magical portal."
As an adjective:
* It means based on or constituting a premise.
* Example: "The premise argument was flawed."
It's important to note that in some cases, "premise" can also function as a verb, but this is less common and mainly used in technical contexts, such as in logic.