PRIZE
Prize
Prize is a term used in admiralty law to refer to equipment, vehicles, vessels, and cargo captured during armed conflict. The most common use of prize in this sense is the capture of an enemy ship and its cargo as a prize of war. In the past, the capturing force would commonly be allotted a share of the worth of the captured prize. Nations often granted letters of marque that would entitle private parties to capture enemy property, usually ships. Once the ship was secured on friendly territory, it would be made the subject of a prize case, an in rem proceeding in which the court determined the status of the condemned property and the manner in which it ...The above text is a snippet from Wikipedia: Prize (law)
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prize
Noun
- That which is taken from another; something captured; a thing seized by force, stratagem, or superior power.
- Anything captured by a belligerent using the rights of war; especially, property captured at sea in virtue of the rights of war, as a vessel.
- An honour or reward striven for in a competitive contest; anything offered to be competed for, or as an inducement to, or reward of, effort.
- That which may be won by chance, as in a lottery.
- Anything worth striving for; a valuable possession held or in prospect.
- A contest for a reward; competition.
- A lever; a pry; also, the hold of a lever. Also spelled prise.
Verb
- To consider highly valuable; to esteem.
- To set or estimate the value of; to appraise; to price; to rate.
- To move with a lever; to force up or open; to prise or pry.
- To compete in a prizefight.
The above text is a snippet from Wiktionary: prize
and as such is available under the Creative Commons Attribution/Share-Alike License.