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Legal Definitions - prize goods
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Definition of prize goods
Definition: Prize goods are goods that are captured at sea during wartime.
For example, if a country is at war and captures a ship carrying goods, those goods become prize goods. These goods can include anything that was on the ship, such as food, clothing, or weapons.
This definition is important because it helps to distinguish between goods that are captured during wartime and goods that are bought and sold in regular commerce. Prize goods have a unique legal status and are subject to different rules and regulations than other types of goods.
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Simple Definition
Prize goods are items that are captured at sea during wartime. They are goods that were taken from the enemy during a battle. These goods can include things like food, clothing, weapons, and other valuable items. Prize goods are often sold or distributed among the soldiers who captured them as a reward for their bravery and service.
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