What is PURSE?

A purse, prize, or premium. Ordinarily some valuable thing, offered by a person for the doing of something by others, into strife for which he does not enter. He has not a chance of gaining the thing offered; and, if he abides by his offer, that he must lose it and give it over to some of those contending for it is reasonably certain. Harris v. White, 81 N. Y. 539.

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