or PRIZE, in maritime affairs, a vessel taken at sea from the enemies of a state, or from pirates; and that either by a man of war, a privateer, &c., having a commission for that purpose.
Vessels are looked on as prize, if they fight under any other standard than that of the state from which they have their commission; if they have no charter-party, invoice, or bill of lading abroad; if loaded with effects belonging to the king's enemies, or with contraband goods.
In ships of war, the prizes are to be divided among the officers, seamen, &c., as his majesty shall appoint by proclamation; but among privateers, the division is according to the agreement between the owners.
By stat. 13 Geo. II. c. 4, judges and officers, failing of their duty in respect to the condemnation of prizes, forfeit 500l. with full costs of suit; one moiety to the king, and the other to the informer.