Sentence:  Soothly, he that despeireth hym is lyk / The coward champious <WSD>recreant</WSD>, that seith, / Creant withoute nede, allas! akkas! bedekes us / He <WSD>recreant</WSD> and nedelees despeired. / [Translation by Larry D. Benson from "Riverside Chaucer": Truly, he that despairs himself is like the cowardly defeated champion, who says "I surrender" without need. Alas, alas, needless is he defeated and needless in despair.] 
Meaning of the word marked with <WSD> tags:  Having admitted defeat and surrendered; defeated. (from 13th c.)