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Capitulation ( la, capitulum, a little head or division; ''capitulare'', to treat upon terms) is an agreement in time of war for the surrender to a hostile armed force of a particular body of troops, a town or a territory.
It is an ordinary incident of war, and therefore no previous instructions from the captors' government are required before finally settling the conditions of capitulation. The most usual of such conditions are
Capitulation ( la, capitulum, a little head or division; ''capitulare'', to treat upon terms) is an agreement in time of war for the surrender to a hostile armed force of a particular body of troops, a town or a territory.
It is an ordinary incident of war, and therefore no previous instructions from the captors' government are required before finally settling the conditions of capitulation. The most usual of such conditions are freedom of religion
Freedom of religion or religious liberty is a principle that supports the freedom of an individual or community, in public or private, to manifest religion or belief in teaching, practice, worship, and observance. It also includes the freedo ...
and security of private property on one hand, and a promise not to bear arms within a certain period on the other.
Such agreements may be rashly concluded with an inferior officer, on whose authority the enemy are not, in the actual position of the war, entitled to place reliance. When an agreement is made by an officer who has not the proper authority or who has exceeded the limits of his authority, it is termed a "sponsion", and, to be binding, must be confirmed by express or tacit ratification
Ratification is a principal's approval of an act of its agent that lacked the authority to bind the principal legally. Ratification defines the international act in which a state indicates its consent to be bound to a treaty if the parties inte ...
.
Article 35 of the Hague Convention (1899) on the laws and the customs of war requires that capitulations agreed on between the contracting parties must be in accordance with the rules of military honor. When once settled, they must be observed by both the parties.
Stock market capitulations
Infinancial market
A financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities include stocks and bonds, raw materials and precious metals, which are known in the financial mark ...
s, "capitulation" describes "giving up" on the market or "surrendering" to bearishness (pessimism) to an extent which involves "panic" selling.
See also
*Capitulation (treaty)
A capitulation (term derived from the Latin word ''caput'') is a treaty or unilateral contract by which a sovereign state relinquishes jurisdiction within its borders over the subjects of a foreign state. As a result, the foreign subjects are i ...
– This article also covers Swiss "military capitulations", or more plainly, mercenary contracts.
* Bottom (technical analysis)
* Articles of Capitulation of Quebec
* Articles of Capitulation of Montreal
References
{{Authority control Law of war *