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recognized market.See MARKET. [Blacks Law 8th]

recognized loss.See LOSS. [Blacks Law 8th]

recognized gain.See GAIN(3). [Blacks Law 8th]

recognizance (ri-kog-n<<schwa>>-z<<schwa>>nts).1. A bond or obligation, made in court, by which a person promises to perform some act or observe some condition, such as to appear when called, to pay a debt, or to keep the peace; specif., an in-court acknowledgment of an obligation in a penal sum, conditioned on the performance or nonperformance of…

recognitor (ri-kog-n<<schwa>>-t<<schwa>>r), n.1.Hist. A member of a jury impaneled on an assize or inquest. See RECOGNITION(1), (2).2.Rare. RECOGNIZOR. [Blacks Law 8th]

recognition strike.See STRIKE. [Blacks Law 8th]

recognition picketing.See organizational picketing under PICKETING. [Blacks Law 8th]

recognition clause.Real estate. A clause providing that, when a tract of land has been subdivided for development, the ultimate buyers of individual lots are protected if the developer defaults on the mortgage. • Such a clause is typically found in a blanket mortgage or a contract for deed. [Blacks Law 8th]

recognition,n.1. Confirmation that an act done by another person was authorized. See RATIFICATION. [Cases: Principal and Agent 170(2).C.J.S. Agency § 88.] 2. The formal admission that a person, entity, or thing has a particular status; esp. a nation’s act in formally acknowledging the existence of another nation or national government. 3.Parliamentary law. The chair’s acknowledgment…

reclusion (ri-kloo-zh<<schwa>>n).Civil law. Incarceration as punishment for a crime; esp. solitary confinement or confinement at hard labor in a penitentiary. [Blacks Law 8th]