The Collaborative International Dictionary of English v.0.48:

Serrate \Ser"rate\, Serrated \Ser"ra*ted\, a. [L. serratus, fr.
   serra a saw; perhaps akin to secare to cut, E. saw a cutting
   instrument. Cf. Sierra.]
   1. Notched on the edge, like a saw.
      [1913 Webster]

   2. (Bot.) Beset with teeth pointing forwards or upwards; as,
      serrate leaves.
      [1913 Webster]

   Doubly serrate, having small serratures upon the large
      ones, as the leaves of the elm.

   Serrate-ciliate, having fine hairs, like the eyelashes, on
      the serratures; -- said of a leaf.

   Serrate-dentate, having the serratures toothed.
      [1913 Webster]

WordNet (r) 3.0 (2006):

serrated
    adj 1: notched like a saw with teeth pointing toward the apex
           [syn: serrate, serrated, saw-toothed, toothed,
           notched]