Showing respect and recognition for someone or something, especially through a special celebration or public acknowledgment.
From Old French 'honorer,' derived from Latin 'honor' meaning 'dignity' or 'high respect.' The spelling with 'u' is the British variant; American English uses 'honoring' without the 'u'.
The British spelling 'honouring' preserves a 'u' that American English dropped—it's a tiny spelling difference that tells you about when and where different countries standardized their English! Both spellings are equally correct in their respective regions.
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