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

Recognizance is most often encountered regarding bail in criminal cases. By filing a bail bond with the court, the defendants will usually be released from imprisonment pending a trial or appeal. If no bail has been set, the defendants are released "on their own recognizance."