Source : Webster's Revised Unabridged Dictionary (1913)

Precipice \Prec"i*pice\, n. [F. pr['e]cipice, L. praecipitium,
   fr. praeceps, -cipitis, headlong; prae before + caput,
   capitis, the head. See {Pre-}, and {Chief}.]
   1. A sudden or headlong fall. [Obs.] --Fuller.

   2. A headlong steep; a very steep, perpendicular, or
      overhanging place; an abrupt declivity; a cliff.

            Where wealth like fruit on precipices grew.
                                                  --Dryden.

Source : WordNet®

precipice
     n : a very steep cliff