''versus'' is when to opposing figures, teams, people etc. go up
against one another. and example, chuck Norris versus Bruce lee,
shows that chuck Norris and Bruce lee are competing against one
another. versus is typically abbreviated to "vs."
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The correct present tense form of "versus" is still "versus." In informal language, it is common to hear "versing" as slang for competing against someone, but it is not grammatically correct. Your daughter might be using it in this informal way.
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"Versus" in Latin means "against" or "towards". It is often used to indicate a contest or comparison between two things or individuals.
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You may be referring to the "v" as in The State v John Doe. In
this case it stands for "vs", which is the abbreviation for
"versus" (against). The same as you'd use this abbreviation to
describe competing sports teams.