A more thorough explanation:

Definition: A person who is obligated under a recognizance; one who is bound by a recognizance.

Example: "A recognizance is an acknowledgment upon record of a former debt, and he who so acknowledges such debt to be due is termed the recognizor, and he to whom or for whose benefit he makes such acknowledgment is termed the recognizee.”

Explanation: A recognizor is someone who acknowledges a debt and is legally bound to fulfill it. For example, if someone takes out a loan and signs a recognizance, they become the recognizor and are obligated to repay the loan. The example given explains that the recognizor acknowledges the debt and the person or entity to whom they owe the debt is called the recognizee.