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If the law is on your side, pound the law. If the facts are on your side, pound the facts. If neither the law nor the facts are on your side, pound the table.
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Legal Definitions - award
Definition of award
An award, in legal terms, refers to the final decision or judgment made by a neutral third party after hearing a dispute. This decision is typically the outcome of a formal process, such as a court trial or an arbitration proceeding. It often specifies the rights and obligations of the parties involved and frequently includes an order for one party to pay a specific amount of money to another.
Example 1 (Arbitration Decision):
Imagine two businesses, "InnovateTech" and "GlobalSupply," had a disagreement over a large software development contract. Instead of going to court, they agreed to resolve their dispute through binding arbitration. After reviewing all the evidence and hearing arguments from both companies, the appointed arbitrator issued a written decision stating that InnovateTech had failed to deliver the software as promised and must pay GlobalSupply $750,000 in compensation for their losses. This final decision by the arbitrator, including the monetary payment, is known as an award.
Example 2 (Jury Verdict):
Consider a personal injury lawsuit where a pedestrian, Ms. Chen, was hit by a car driven by Mr. Davies. Ms. Chen sued Mr. Davies for her medical bills, lost wages, and pain and suffering. The case went to trial, and a jury heard testimony from witnesses and reviewed evidence. After deliberation, the jury concluded that Mr. Davies was at fault and decided he should pay Ms. Chen $200,000 to cover her damages. This monetary compensation determined by the jury is an award.
Example 3 (Judge's Ruling in a Contract Dispute):
Suppose a homeowner, Mr. Henderson, hired a construction company, "BuildWell Inc.," to build an addition to his house. BuildWell Inc. failed to complete the project on time and according to the agreed-upon specifications, causing Mr. Henderson significant additional expenses. Mr. Henderson sued BuildWell Inc. for breach of contract. After a trial where a judge heard all the evidence without a jury, the judge issued a ruling finding BuildWell Inc. liable and ordered them to pay Mr. Henderson $80,000 to cover his costs and losses. This final monetary judgment from the judge is also referred to as an award.
Simple Definition
An "award" is a final judgment or decision, often declaring that one party owes money to another. While frequently referring to decisions made by arbitrators or juries, it can also be a decision rendered by a judge.