The document discusses the Cannizzaro reaction, which is the disproportionation of aldehydes in basic conditions to produce an alcohol and a carboxylic acid. It was discovered by Stanislao Cannizzaro in 1853. The reaction requires an aromatic or aliphatic aldehyde without alpha hydrogens and a strong base like potassium hydroxide. The mechanism involves deprotonation of the aldehyde followed by hydride transfer to another aldehyde molecule. Examples and limitations of the reaction are provided. Variations like the crossed and intramolecular Cannizzaro reactions are also described.