When it comes to legal terms, understanding what an award means is of great importance. In legal terms, an award is usually a judgment or decision that imposes a duty, liability, or obligation on two or more parties following a dispute or a court case. Awards can be imposed in a variety of settings, including civil and criminal courts.
Essentially, an award is the determination of rights or responsibilities between parties, whether these parties are individuals, organizations, or governmental agencies. Awards can include the granting of money as well as the determination of non-monetary outcomes such as the dissolution of a contract or agreement.
Examples of Award in Legal Terms
For example, in a recent civil case, a business partnership was not working out and each party sued the other for damage done to the business. During the court proceedings, the judge issued an award that was based on his or her determination of the facts and the relevant law. This judge’s decision, also known as an “award,” established the rights and responsibilities between the two parties, including a determination of awarded damages.
In another example, an arbitrator was used to settle a labor dispute between two unions. After hearing the evidence and arguments from both sides, the arbitrator issued a final award, which laid out the conclusion and decision of the case and outline the duties and responsibilities of both unions.
Conclusion
In short, an award in legal terms is a determination of a decision-maker that is used to establish the rights and responsibilities of two or more parties following a dispute or a court case. Awards can take many forms, including the awarding of money or the dissolution of a contract or agreement. It is important to understand the implications of an award in order to protect your rights and ensure that justice is properly served.