In finance, bond is a debt security in which the person issuing the bond owes a debt to the holder of such bond. In…, In the civil and French law. A bondman; a slave. In re Fitch, 8 Redf.

Bond and disposition in security. (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. Generally, bonds are secured by a mortgage. Search. 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. 427. Copyright © 2020, Thomson Reuters. Rev. The FindLaw Legal Dictionary -- free access to over 8260 definitions of legal terms. 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. 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. 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. 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

12.…, contr. (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. Bond for title. Therefore, a bond is like a loan in which the issuer is the borrower and the holder is the creditor. Bond creditor. 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. TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

1880, 19. § 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. Bond and mortgage. Source: Merriam-Webster's Dictionary of Law ©1996. 459. 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. Comm. Code, art. 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. 3522, No. 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.

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. 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. Copyholders and customary tenants are sometimes so called. Visit our professional site ». Bonds provide the borrower with external funds to finance long-term investments. Internet Explorer 11 is no longer supported. The person obtaining the bond will commonly pay the bonding company approximately 10% of the value of the bond as a fee. Bond in the context of law refers to a formal contract to repay at fixed intervals the amount borrowed with the interest. Bonded, secured by bond. St. Rep. 273. 838; Boyd v. Boyd, 2 Nott & McC. The following is an example of a state statute defining the term bond. Penal action. The law is also subject to change from time to time and legal statutes and regulations vary between states.

Y.) All information available on our site is available on an "AS-IS" basis. The term is sometimes made to include the bonds of executors, guardians, trustees, etc. We recommend using 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.

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. Are you a legal professional? 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. 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. Code Miss. 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. n. 1) written evidence of debt issued by a company with the terms of payment spelled out.

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. Get the USLegal Last Will Combo Legacy Package and protect your family today! 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. Bond tenants. 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. © Copyright 1995 - 2015 TheLaw.com LLC. All rights reserved.

(N. In English law. Begin typing to search, use arrow keys to navigate, use enter to select, Please enter a legal issue and/or a location. (S. C.) 126. Microsoft Edge. According to Va. Code Ann. Security given for the performance of any thing; bail;…, contracts.

Search for a definition or browse our legal glossaries. In Scotch law. v. To give bond for, as for duties on goods; to secure payment of duties, by giving bond. The people providing legal help and who respond are volunteers who may not be lawyers, legal professionals or have any legal training or experience. 2 Bl. Bonds are either single (simple) or double, (conditional.) Published under license with Merriam-Webster, Incorporated. Official bond. S. V. Rundle, 100 Fed. In the case of government bonds, it provides funds to finance current expenditures.

588, 23 Am. TJ.

Law Dictionary – Alternative Legal Definition. 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. A bond given by a public officer, conditioned that he shall well and faithfully perform all the duties of the office.

Search for a definition or browse our legal glossaries.

Name Bond Financing Costs [Aeronautics and Space], American Municipal Bond Assurance Corporation. Meigs v. Bunting, 141 Pa. 233, 21 Atl.

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

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. 403, 40 C. C. A. Sur. 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. (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. -Simple bond. It is not a substitute for professional legal assistance. Burnside v. Wand, 170 Mo. Skene. 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? A creditor whose debt is secured by a bond. Convenient, Affordable Legal Help - Because We Care! Therefore, a bond is a written obligation made by the owner of a real property to repay a loan under the specified terms. Firefox, or written agreement in which someone receives the bond (monetary payment) and promises to engage in a specific act 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. 450; Turck v. Mining Co., 8 Colo. 113, 5 Pac.

In old Scotch law. Registered bonds pay to a named person on file while bearer bonds are paid to the holder of the actual certificates. bond. -Single bond. Merriam-Webster, Incorporated. 184, 53 S. W. 1060. All Rights Reserved, The person who has engaged to perform some obligation. The FindLaw Legal Dictionary -- free access to over 8260 definitions of legal terms. Google Chrome, White v. Stokes, 67 Ark. 148. Add or request a definition by filling out the short form below! an undertaking in writing without seal shall be sufficient. Such debt must be discharged according to the term of the bond on the attainment of maturity. 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…. (2) A financial document. Louis.



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