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Simple English definitions for legal terms
prize
Read a random definition: arguendo
A quick definition of prize:
Prize: A prize is something valuable that is given to someone as a reward for doing something great. It can also refer to a ship or its cargo that is taken by a country during a war and can be claimed as their own property.
A more thorough explanation:
Definition: A prize is something valuable that is given to someone as a reward for their achievement. It can also refer to a ship or its cargo that is captured during a war and can be claimed by the capturing nation.
Examples:
- Winning the Nobel Prize in Literature is a great honor and comes with a cash prize.
- The lottery winner received a prize of $1 million.
- During the war, the navy captured an enemy ship and claimed it as a prize.
The examples illustrate the two different meanings of the word "prize." The first two examples show how a prize can be a reward for an achievement, such as winning a literary award or a lottery. The third example shows how a prize can refer to a ship or its cargo that is captured during a war and claimed by the capturing nation.