Prize (law)

Definition and stakes

Quincy Wright,  Prize Money

“ In brief the laws of prize distribution enunciated by the great founders of international law of the sixteenth and seventeenth centuries appear to be as follows:
1. The state is the only power which can prosecute war and make prize.
2. The right of private reprisal can only be exercised under specific commission from the state.
3. The title to all prizes vests originally in the state.
4. Distribution should be decreed only after [27] adjudication of the prize by a regular tribunal of the state.
5. The method of distributing prize money is determined by municipal law.
”
Source: Gutenberg

Quincy Wright,  Prize Money

“ A treaty with Flanders of 1426 contains the provision that "no prizes shall be divided at sea or in a foreign harbour but shall be brought entire to a port of England and there it will be adjudged by the king and council, the chancellor or the admiral whether the prize belonged to friends or enemies and [36] it will be disposed of in good and brief manner." [9] Here we seem to have a distinct enunciation of the most modern principles of prize law that no title to prize is legally conferred until after adjudication by a competent organ of the state making the capture. ”
Source: Gutenberg

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