The term “prevailing party” is a legal concept referring to the party that has successfully won or prevailed in a lawsuit or legal dispute. This determination is typically made by a court or through a settlement agreement. The prevailing party may be entitled to certain benefits or remedies, such as attorney’s fees, costs, or specific performance of a contract. The criteria for determining the prevailing party can vary depending on the jurisdiction and the specific circumstances of the case. Overall, it signifies the party that has achieved its objectives or obtained a favourable outcome in the legal proceedings.
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This glossary post was last updated: 29th March 2024.
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