Found 1 items, similar to surrender value.
English → English (gcide) Definition: surrender value Surrender \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. [1913 Webster] That he may secure some liberty he makes a surrender in trust of the whole of it. --Burke. [1913 Webster] 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. --Wharton. [1913 Webster] 3. (Insurance) The voluntary cancellation of the legal liability of the company by the insured and beneficiary for a consideration (called the surrender value). [Webster 1913 Suppl.]