Prize Amount
Legal definition for Indian law research
Definition
Prize amount, means the difference between the chit amount and the discount, and in the case of a fraction of a ticket means the difference between the chit amount and the discount proportionate to the fraction of the ticket, and when the prize amount is payable otherwise than in cash, the value of the prize amount shall be the value at the time when it becomes payable. [Chit Funds Act, 1982 (40 of 1982), s. 2(m)]
Definitions are for legal research. Always verify meaning in the context of the statute, judgment, or jurisdiction cited.