The term 'fero, ferre, tuli, latum' is the principal part of an irregular Latin verb that means 'to bear' or 'to carry.' This verb is unique because it does not follow the regular conjugation patterns found in other Latin verbs, making it an essential study point when learning about irregular verbs. It also has multiple meanings and can be used in various contexts, such as conveying physical carrying or metaphorically bearing burdens or responsibilities.