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From: Webster's Revised Unabridged Dictionary (1913)

 Prize n.
 1. That which is taken from another; something captured; a thing seized by force, stratagem, or superior power.
    I will depart my pris, or my prey, by deliberation.   --Chaucer.
 His own prize,
 Whom formerly he had in battle won.   --Spenser.
 2. Hence, specifically; (a) Law Anything captured by a belligerent using the rights of war; esp., property captured at sea in virtue of the rights of war, as a vessel. --Kent. --Brande & C. (b) An honor or reward striven for in a competitive contest; anything offered to be competed for, or as an inducement to, or reward of, effort.
    I'll never wrestle for prize more.   --Shak.
    I fought and conquered, yet have lost the prize.   --Dryden.
 (c) That which may be won by chance, as in a lottery.
 3. Anything worth striving for; a valuable possession held or in prospect.
    I press toward the mark for the prize of the high calling of God in Christ Jesus.   --Phil. iii. 14.
 4. A contest for a reward; competition. [Obs.]
 5. A lever; a pry; also, the hold of a lever. [Written also prise.]
 Prize court, a court having jurisdiction of all captures made in war on the high seas. --Bouvier.
 Prize fight, an exhibition contest, esp. one of pugilists, for a stake or wager.
 Prize fighter, one who fights publicly for a reward; -- applied esp. to a professional boxer or pugilist. --Pope.
 Prize fighting, fighting, especially boxing, in public for a reward or wager.
 Prize master, an officer put in charge or command of a captured vessel.
 Prize medal, a medal given as a prize.
 Prize money, a dividend from the proceeds of a captured vessel, etc., paid to the captors.
 Prize ring, the ring or inclosure for a prize fight; the system and practice of prize fighting.
 To make prize of, to capture. --Hawthorne.