Fail to acknowledge a share of the spoils
I believe the answer is:
cut
'fail' is the definition.
(I know this)
I don't understand how the remainder of the clue works.
Can you help me to learn more?
(Other definitions for cut that I've seen before include "dropped" , "Reduction; piece of meat" , "Sever, slice" , "reduced" , "Saw" .)