capitulation, in the history of international law, any treaty whereby one state permitted another to exercise extraterritorial jurisdiction over its own nationals within the former state's boundaries.

What did the capitulations do?

The Turkish Capitulations were grants made by successive Sultans to Christian nations, conferring rights and privileges in favour of their subjects resident or trading in the Ottoman dominions, following the policy towards European states of the Byzantine Empire.

What is the meaning of capitulations?

Understanding Capitulation

By definition, capitulation means to surrender or give up. In financial circles, this term is used to indicate the point in time when investors have decided to give up on trying to recapture lost gains as a result of falling stock prices.