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From: Webster's Revised Unabridged Dictionary (1913)

 Sur·ren·der, n.
 1. The act of surrendering; the act of yielding, or resigning one's person, or the possession of something, into the power of another; as, the surrender of a castle to an enemy; the surrender of a right.
    That he may secure some liberty he makes a surrender in trust of the whole of it.   --Burke.
 2. Law (a) The yielding of a particular estate to him who has an immediate estate in remainder or reversion. (b) The giving up of a principal into lawful custody by his bail. (c) The delivery up of fugitives from justice by one government to another, as by a foreign state. See Extradition.
 3. Insurance The voluntary cancellation of the legal liability of the company by the insured and beneficiary for a consideration (called the surrender value).