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an agreement in time of war for the surrender
Surrender is when soldiers, nations or other combatants stop fighting and eventually become prisoners of war, either as individuals or when ordered to by their officers. A white flag is a common symbol of surrender, as is the gesture of raising one's hands empty and open above one's head.When the...
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 and security of private property on the 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.
The Hague Convention
The Hague Conventions were two international treaties negotiated at international peace conferences at The Hague in the Netherlands: The First Hague Conference in 1899 and the Second Hague Conference in 1907...
(1899) on the laws and the customs of war lays down 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
In financial markets "capitulation" describes "giving up" on the market or "surrendering" to bearishness
A market trend is a putative tendency of a financial market to move in a particular direction over time. These trends are classified as secular for long time frames, primary for medium time frames, and secondary for short time frames...
(pessimism) to an extent which involves "panic" selling.