Nonrecognition vs Negligence - What's the difference?
nonrecognition | negligence |
(taxes) Not involving recognition of gain or loss.
Lack of recognition.
The state of being negligent.
(legal, singulare tantum) The tort whereby a duty of reasonable care was breached, causing damage: any conduct short of intentional or reckless action that falls below the legal standard for preventing unreasonable injury.
(legal, uncountable) The breach of a duty of care: the failure to exercise a standard of care that a reasonable person would have in a similar situation.