What Is Meaning Of Bond In Law
15102019 Bottled-in-bond is one of the oldest designations in American spirits. A bond is an incentive to fulfill an obligation.
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It is rather a way of securing a defendants agreement to abide by certain conditions and return to court.
What is meaning of bond in law. Includes investment bonds penal bonds conditioned on the performance of duties of office or other obligations undertaken by the principal obligor in. A written guarantee in regards to the fulfillment of a legal obligation. A bond is a fixed income instrument that represents a loan made by an investor to a borrower typically corporate or governmental.
Bond verb I or T MAKE CONNECTION C2 to develop a close connection or strong relationship with someone or to make someone do this. Surety Bond Performance Bond Surety Stock Security Share. The will maker may request in the will that no bond be required.
An administrator bond is a bond required by a court of law for someone who is acting as the administrator in a probate case technically an intestate estate. To convey these conditions a judge signs an Order Setting Conditions of BondRelease. Net Bond Proceeds means that amount of proceeds from Bonds issued by the City pursuant to Section 23 herein that is net after providing for the payment of issuance costs the creation of reserves and the deposit of capitalized interest and upon terms and conditions that conform to Applicable Law and that are satisfactory to the City.
A bond may be an insurance policy required by a court for the benefit of a trust or an estate. This is the meaning when we say that a public utility issued or sold bonds to help finance a new power plant. It also provides reassurance.
A bond could be. When no money is required to back up the promise to come to court the bond is called a personal recognizance bond or a PR bond. Bonds Law and Legal Definition.
Investors talk about investing in stocks and bonds. The bond provides protection against the possibility of fraud or embezzlement by an executor. A bond is also used to describe a guarantee of another persons obligation.
The following is an example of a state statute dealing with executors bonds. A surety is often involved which the bond makes responsible for any consequences of the persons behavior. But see 2 Shepl.
A surety bond required by law or as a condition to the conduct of a specific business or profession called also permit bond. The aim was to bond the group into a closely knit team. A bond as an appeal bond or bail bond required to be given in a court proceeding license bond.
Bail is not intended as a punishment in itself. A bond is an obligation expressed in writing to pay a fixed and liquidated sum on the happening or nonoccurence of a specified condition or event. Bond In law a formal written agreement by which a person undertakes to perform a certain act eg appearing in court or fulfilling the obligations of a contract.
Most times the state requires more than just the defendants promise to come to court. A bond could be a formal debt instrument issued by a corporation or government and purchased by investors. Find out what the term means and why its on everything from whiskey to rum.
This bond protects beneficiaries and creditors from dishonesty or willful negligence on the part of the person acting as administrator. What Is a Bail Bond. 11012017 Bond Conditions By Law By law bond conditions are court-imposed requirements that a defendant on pre-trial release must follow until his case is resolved.
A bail bond is an agreement by a criminal defendant to appear for trial or pay a sum of money set by the court. A written promise of one person to do something or to pay a sum of money to a specified person on either a certain date or upon the occurrence or barring the occurrence. A bond legally binds someone to fulfill an obligation and gives reassurance that the compensation will be available if the duty is not fulfilled.
The bail bond. Failure to perform the act obligates the person to pay a sum of money or to forfeit money on deposit. 25042018 A bond is posted on a defendants behalf usually by a bail bond company to secure his or her release.
These conditions can be re-visited or even challenged on appeal by the defendant. A bond in a criminal case is an assurance a defendant gives the state promising to come to court when instructed. An obligation or bond is a deed whereby the obligor obliges himself his heirs executors and administrators to pay a certain sum of money to another at a day appointed.
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