Recognition

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Recognition

The confirmation or Acknowledgment of the existence of an act performed, of an event that transpired, or of a person who is authorized by another to act in a particular manner.

In tax law, a capital gain is recognized when a taxpayer has actually received payment. Such gain must then be reported on Income Tax forms, and capital gains tax must be paid on it.

In International Law, the term recognition refers to the formal acknowledgment by one state that another state exists as a separate and independent government. Recognition is not a mere technicality. A state has no status among nations until it is recognized by other states, in spite of the fact that it might possess all other attributes of a state, including a definable territory and population, a recognizable government, and a certain amount of continuity or stability.

The decision to recognize a new national government is a political act that is in the discretion of the officials who are responsible for foreign policy. In the United States, the president makes the decision to recognize a country and can do so by making a formal announcement or by having another official, such as the Secretary of State, make the announcement for him. Recognition can also be informal, such as by opening negotiations with a new state or exchanging diplomats with it.

A nation is not truly sovereign and independent unless other nations recognize its sovereignty. Formal recognition operates to assure a new state that it will be permitted to hold its place and rank as an independent political body among the nations.

Recognition takes effect from the time it is given as if the state had always existed, and a new government can carry forward international projects initiated by the old government it replaces.Many difficulties come into play when a government is not recognized. For example, an unrecognized government is not entitled to participate in diplomatic negotiations or to have its laws applied in lawsuits or in jurisdictions.

The term recognition is also used in relation to armed conflicts. If a state of belligerency is recognized, then the law of war applies with all of its protections for prisoners of war and noncombatants. Recognition of a state of belligerency ordinarily comes from an uninvolved state that declares itself neutral. A neutral country is able to recognize a state of belligerency and carry on trade and diplomatic relations with both sides of the conflict.

RECOGNITION, contracts. An acknowledgment that something which has been done by one man in the name of another, was done by authority of the latter.
     2. A recognition by the principal of the agency of another in the particular instance, or in similar instances, is evidence of the authority of the agent, so that the recognition may be either express or implied. As an instance of an implied recognition may be mentioned the case of one who subscribes policies in the name of another and, upon a loss happening, the latter pays the amount. 1 Camp. R. 43, n. a; 1 Esp. Cas. 61; 4 Camp. R. 88.

References in periodicals archive ?
The post (http://www.palestinechronicle.com/netherlands-recognizes-gaza-west-bank-as-official-palestinian-birthplaces/) Netherlands Recognizes Gaza, West Bank as Official Palestinian Birthplaces appeared first on (http://www.palestinechronicle.com) Palestine Chronicle.
Accordingly, companies recognize no tax benefit when they record the compensation expense under Statement no.
* Understanding people -- Executives who handle interpersonal situations well are able to recognize underlying agendas; gauge how these agendas may conflict with one another; and anticipate the probable effects and likely unintended consequences of a chosen course of action.
The proposed Interpretation would permit an enterprise to recognize the financial statement effects of a tax position when the position is "probable" of being sustained by the enterprise following an audit by the taxing authorities.
There Jesus clarifies that his message of repentance is to those who recognize their need (5:32).
As Sunstein recognizes, the real question isn't about the desirability of satisfying basic human needs; it's about whether we should guarantee government assistance in satisfying these needs by making them into a right, constitutional or otherwise.
Although there are numerous certifications pertaining to aquatics, ACA generally recognizes only those certifications offering course content and testing that are consistent with nationally and internationally recognized aquatics organizations.
Because the needs of children are at stake, even states such as Mississippi, which prohibits in-state adoption by same-sex couples, are apt to recognize the rights of gay parents who have obtained legal custody elsewhere.
It is therefore our destiny--and more importantly, our responsibility--to recognize our loneliness, to recognize the distance between the two worlds.
Different TLRs seem to recognize distinct microbial features.
"They also hold fund raisers, send cards and plants to hospitalized residents and employees, and assist other community agencies with visitations to homebound elderly and joint fund-raising efforts." Through their ministry, OGS members also recognize the work of other employees through, for example, quarterly celebration "teas" on all shifts and special worship services, such as the annual "Blessing of the Hands" during Nurses' Week.
To confront the moral disorders of our time, we must first of all recognize and understand them.