A party hunt is when several players cooperate to kill a monster. Strong monsters are often hunted for their loot, but they may do it for experience as well. Usually the party allows the monster to respawn by standing out of it's respawn area and then waiting. The monster is usually killed repeatedly and the hunt usually lasts until the party runs out of supplies or gets tired.
A solo hunt is when one player kills a monster or several monsters in an area several times. Solo hunts are usually done for experience but high level players may be able to take on strong monsters that are usually hunted in a party for experience and or loot.
A player hunt is when one or several players attempt to find and kill another player. The target is refered to as being "hunted" and may be tracked down with the Find Person spell. Now possible to get "unhunted" by changing world..
See Also: List of Hunting Places