Get the better of old university for time with caper (7)
I believe the answer is:
outplay
'get the better of' is the definition.
(I know this)
'university for time with caper' is the wordplay.
'university' becomes 'ou'.
'for' is a charade indicator (letters next to each other).
'time' becomes 't' (abbreviation).
'with' is a charade indicator (letters next to each other).
'caper' becomes 'play' (synonyms).
'ou'+'t'+'play'='OUTPLAY'
'old' acts as a link.
This may not be correct. It may belong to another bit of the clue.
Can you help me to learn more?
(Other definitions for outplay that I've seen before include "Act better" , "Excel at games" , "Get the better of" , "Perform better than" , "Defeat (sport)" .)