Named after Johann Palisa - Czechoslovakian-Austrian astronomer (1848-1925).
Palisa is the remnant of a lunar crater that is located to the west of the walled plain Ptolemaeus. It lies to the north-northeast of the crater Davy, and is attached to the lava-flooded satellite crater Davy Y by a wide break in the southwest rim. The rim is worn and eroded, especially in the western half where there are multiple gaps that join the crater floor to the Mare Nubium to the west. The interior is nearly flat, and marked only by a pair of tiny craterlets in the southwest gap. (wikipedia entry)
A crater is a circular depression likely created by an impact event. On the Moon they are named after deceased scientists, polar explorers, astronauts or cosmonauts.