Recognizance, in Anglo-American Law, Obligation Entered into Before a Judge or Magistrate Whereby a Party (The Recognizor) Binds Himself to Owe a Sum of Money in the Event That He Does Not Perform a Stipulated Act. If He Fails to Perform the Required Act, the Money May Be Collected in an Appropriate Legal Proceeding.
What's a Legal Recognizance?
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★ Key Takeaways
Recognizance, in Anglo-American Law, Obligation Entered into Before a Judge or Magistrate Whereby a Party (The Recognizor) Binds Himself to Owe a Sum of Money in the Event That He Does Not Perform a Stipulated Act. If He Fails to Perform the Required Act, the Money May Be Collected in an Appropriate Legal Proceeding.
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