Award Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Award, written in plain English, along with examples of how it is used.
What is Award?
(n) Award is the honor, admiration or grant etc given to a person legitimately accepting his rights, eligibility, stance etc. Eg. Award of compensation of the loss suffered. 2. Award for exemplary services
History and Definition of Award
The term "award" comes from the Old English word "awarden," meaning "to look at, to decide." In legal terms, an award is the granting of something, such as money, property, or recognition, to a person who is entitled to it. This can be in the form of compensation for a loss suffered, recognition for exemplary service, or any other legitimate reason.
Examples of Award
- Julia was awarded $100,000 in compensation for the injuries she sustained in a car accident.
- The employee of the month award goes to the worker who consistently demonstrates exemplary performance.
- The Nobel Peace Prize is an award given to individuals or organizations who have made outstanding contributions to world peace.
Related Legal Terms
- Settlement - a resolution of a dispute that prevents further legal action.
- Damages - financial compensation awarded to a person as a result of harm caused.
- Injunction - a court order that prohibits or mandates certain conduct.
- Mediation - a process in which a neutral third party assists parties in resolving a legal dispute.
- Arbitration - a form of alternative dispute resolution in which a neutral third party makes a decision that is binding on the parties involved.