The term is sometimes made to include the bonds of executors, guardians, trustees, etc. an undertaking in writing without seal shall be sufficient. The FindLaw Legal Dictionary -- free access to over 8260 definitions of legal terms. A clause in an agreement, by which the obligor agrees to pay a certain-sum…, The amount of money paid for bail by a bondsman or bail bond agent, who…, contracts.

(3) This may also refer to an amount deposited with an appellate court by a losing party to a case which keeps the judgment creditor from collecting the amount during the appeals process. 1880, 19.

A double (or conditional) bond is one to which a condition is added that if the obligor does or forbears from doing some act the obligation shall be void. All rights reserved.

Bond for title. (S. C.) 126. All Rights Reserved, The person who has engaged to perform some obligation.

Bonded, secured by bond. Bond and mortgage. n. 1) written evidence of debt issued by a company with the terms of payment spelled out. Bonded goods are those for the duties on which bonds are given.. Can't find the legal word, term, phrase or abbreviation that you're seeking in our dictionary?

The person obtaining the bond will commonly pay the bonding company approximately 10% of the value of the bond as a fee. Bonds provide the borrower with external funds to finance long-term investments. § 19.2-119, a "Bond" means the posting by a person or his surety of a written promise to pay a specific sum, secured or unsecured, ordered by an appropriate judicial officer as a condition of bail to assure performance of the terms and conditions contained in the recognizance. -Simple bond.

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TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed. 12.…, contr. Before making any decision or accepting any legal advice, you should have a proper legal consultation with a licensed attorney with whom you have an attorney-client privilege. (1) A suretyship agreement where a bonding company guarantees to a court that a person will perform some required act (for example, making all court appearances, providing the title to a parcel of real estate) and will pay to the court or aggrieved party the entire amount of money required (the value of the bond) if the person fails to perform on his or her obligations. An obligation of record entered into before a court or officer duly authorized for…, A bond or negotiable instrument that is made payable to whomever the person is holding…. A deed whereby the obligor obliges himself, his heirs, executors, and administrators, to pay a certain sum of money to the obligee at a day named, without terms of defeasance. A government or company may issue a debt instrument which provides for set payments to a purchaser (the bond holder) on a set date. A bond and mortgage on land. The word “bond” shall embrace every written undertaking for the payment of money or acknowledgment of being bound for money, conditioned to be void on the performance of any doty, or the occurrence of anything therein expressed, and subscribed and delivered by the party making it, to take effect as his obligation, whether it be sealed or unsealed; and, when a bond is required by law.

Therefore, a bond is like a loan in which the issuer is the borrower and the holder is the creditor. At common law, a bond without penalty; a bond for the payment of a definite sum of money to a named obligee on demand or on a day certain. It is a deed that imposes an obligation upon the obligor, his/her heirs, or executors to pay a certain sum of money to another person on a day fixed in the deed.

Firefox, or Copyholders and customary tenants are sometimes so called. Published under license with Merriam-Webster, Incorporated. Therefore, a bond is a written obligation made by the owner of a real property to repay a loan under the specified terms. Y.) Generally, bonds are secured by a mortgage. Law Dictionary – Alternative Legal Definition. The FindLaw Legal Dictionary -- free access to over 8260 definitions of legal terms. Visit our professional site ». 148. Burnside v. Wand, 170 Mo. Name Security given for the performance of any thing; bail;…, contracts. S. V. Rundle, 100 Fed. Registered bonds pay to a named person on file while bearer bonds are paid to the holder of the actual certificates. It is a deed that imposes an obligation upon the obligor, his/her heirs, or executors to pay a certain sum of money to another person on a day fixed in the deed.

838; Boyd v. Boyd, 2 Nott & McC. Louis. The people providing legal help and who respond are volunteers who may not be lawyers, legal professionals or have any legal training or experience. Bond tenants. Search for a definition or browse our legal glossaries.

(2) A financial document. 2 Bl. Bond Law and Legal Definition Bond in the context of law refers to a formal contract to repay at fixed intervals the amount borrowed with the interest. In re Fitch, 8 Redf. 450; Turck v. Mining Co., 8 Colo. 113, 5 Pac. We recommend using St. Rep. 273. Google Chrome,

Search. Sur. All information available on our site is available on an "AS-IS" basis. Bond and disposition in security. TJ.

588, 23 Am. Bond creditor.

According to Va. Code Ann. The law is also subject to change from time to time and legal statutes and regulations vary between states. A single bond is one in which the obligor binds himself, his heirs, etc., to pay a certain sum of money to another person at a specified day. In English law. Meigs v. Bunting, 141 Pa. 233, 21 Atl. Begin typing to search, use arrow keys to navigate, use enter to select, Please enter a legal issue and/or a location. A bond given by a public officer, conditioned that he shall well and faithfully perform all the duties of the office.

Copyright © 2020, Thomson Reuters. In Scotch law. In the case of government bonds, it provides funds to finance current expenditures. Code, art.

White v. Stokes, 67 Ark. An obligation accompanying an executory contract for the sale of land, binding the vendor to make good title upon the performance of the conditions which entitle the vendee to demand a conveyance. Bond Financing Costs [Aeronautics and Space], American Municipal Bond Assurance Corporation. In…, In the civil and French law. 184, 53 S. W. 1060. 427.

A bondman; a slave. Thus, “railway aid bonds” are bonds issued by municipal corporations to aid in the construction of railroads likely to benefit them, and exchanged for the company’s stock. Bonds are either single (simple) or double, (conditional.) Legal definition for BOND: (1) A suretyship agreement where a bonding company guarantees to a court that a person will perform some required act (for example, making all court appearances, providing t -Single bond.

n. A contract by specialty to pay a certain sum of money; being a deed or instrument under seal, by which the maker or obligor promises, and thereto binds himself, his heirs, executors, and administrators, to pay a designated sum of money to another; usually with a clause to the effect that upon performance of a certain condition (as to pay another and smaller sum) the obligation shall be void. 459. Get the USLegal Last Will Combo Legacy Package and protect your family today! It is not a substitute for professional legal assistance.

Internet Explorer 11 is no longer supported. A species of security, consisting of a bond conditioned for the repayment of a loan of money, and a mortgage of realty to secure the performance of the stipulations of the bond.

3522, No. 403, 40 C. C. A. Formerly such a condition was sometimes contained in a separate instrument, and was then called a “defeasance.” The term is also used to denote debentures or certificates of indebtedness issued by public and private corporations, governments, and municipalities, as security for the repayment of money loaned to them.

Convenient, Affordable Legal Help - Because We Care! Microsoft Edge. Source: Merriam-Webster's Dictionary of Law ©1996. It is possible that the law may not apply to you and may have changed from the time a post was made. The word “bond” has with us a definite legal signification. Search for a definition or browse our legal glossaries.

Bond, In law, a formal written agreement by which a person undertakes to perform a certain act (e.g., appearing in court or fulfilling the obligations of a contract).Failure to perform the act obligates the person to pay a sum of money or to forfeit money on deposit. written agreement in which someone receives the bond (monetary payment) and promises to engage in a specific act Are you a legal professional? (N. bond.

In finance, bond is a debt security in which the person issuing the bond owes a debt to the holder of such bond. Such debt must be discharged according to the term of the bond on the attainment of maturity.

In old Scotch law.

v. To give bond for, as for duties on goods; to secure payment of duties, by giving bond. Official bond. A bond differs from corporate shares of stock since bond payments are pre-determined and provide a final pay-off date, while stock dividends vary depending on profitability and corporate decisions to distribute. (adsbygoogle = window.adsbygoogle || []).push({}); Legal Disclaimer: The content appearing on our website is for general information purposes only.

A writing by which one person or more, promises to another or others, to…, Punishable; inflicting a punishment; containing a penalty, or relating to a penalty. For purposes of New York and New Jersey State ethics rules, please take notice that this website and its case reviews may constitute attorney advertising. Add or request a definition by filling out the short form below! Bond in the context of law refers to a formal contract to repay at fixed intervals the amount borrowed with the interest. It has a clause, with a sum fixed as a penalty, binding the parties to pay the same, conditioned, however, that the payment of the penalty may be avoided by the performance by some one or more of the parties of certain acts.

631, 71 S. W. 337, 62 L. R. A.

Skene. When you submit a question or make a comment on our site or in our law forum, you clearly imply that you are interested in receiving answers, opinions and responses from other people. Code Miss. Rev. The following is an example of a state statute defining the term bond. Merriam-Webster, Incorporated. Penal action. A creditor whose debt is secured by a bond.