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From The Collaborative International Dictionary of English v.0.48:
Latex \La"tex\, n. [L.] 1. (Bot.) A milky or colored juice in certain plants in cavities (called latex cells or latex tubes). It contains the peculiar principles of the plants, whether aromatic, bitter, or acid, and in many instances yields caoutchouc upon coagulation. The lattex of the India rubber plant produces the rubber of commerce on coagulation. [1913 Webster +PJC] 2. (Chem.) Any aqueous emulsion of finely divided rubber or plastic particles, especially such an emulsion used as a base for paint; as, a latex paint. [PJC]