In British, Canadian and American law, the term recognizance's usually employed to describe an obligation of record, entered into before some court or magistrate duly authorized, whereby the party bound acknowledges (recognizes) that s/he owes a personal debt to the government or Crown, with a defeasance, for example subject to a condition that the obligation to pay shall be avoided if he'll do some particular act, as if s/he'll appear at the assizes, keep the peace, or the like. Recognizance's… (More on Recognizance)