Which of the following best described the term "recognizance"?
Oit refers to the conditions of a formal or simple contract that an adult signs with a
minor
it refers to the obligations that people enter into before a court to do an act
required by
law
it refers to the penalties that a party faces if the party fails to honor the obligation
of a
contract
it refers to negotiable instruments such as checks, notes, drafts, and CDs