Bond at Legal Glossary

What is it? (1) A written agreement purchased from a bonding company that guarantees a person will properly carry out a specific act, such as managing funds, showing up in court, providing good title to a piece of real estate or completing a construction project. If the person who purchased the bond fails at his or her task, the bonding company will pay the aggrieved party an amount up to the value of the bond. (2) An interest-bearing document issued by a government or company as evidence of a debt. A bond provides pre-determined payments at a set date to the bond holder. Bonds may be registered bonds, which provide payment to the bond holder whose name is recorded with the issuer and appears on the bond certificate, or bearer bonds, which provide payments to whomever holds the bond in-hand.

Law Definition Added By: Cameron

Send To Friends!

If you'd like to send the Bond definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -

We hope you now understand the meaning of Bond. If you need any more information on this term, please don't hesitate to contact us.

Other Similar Legal Terms:

Law Terms fitness is The ability of a prospective adoptive parent to provide for the best interests of a child. A court may consider many aspects of the prospective parents lives in evaluating their fitness to adopt a child, including financial stability, marital stability, career obligations, other children, physical and mental health and criminal history.

Law Terms responsive pleadings is See answer.

Law Terms lease is An oral or written agreement (a contract) between two people concerning the use by one of the property of the other. A person can lease real estate (such as an apartment or business property) or personal property (such as a car or a boat). A lease should cover basic issues such as when the lease will begin and end, the rent or other costs, how payments should be made, and any restrictions on the use of the property. The property owner is often called the lessor, and the person using the property is called the lessee.

Law Terms inventory is A complete listing of all property owned by a deceased person at the time of death. The inventory is filed with the court during probate. The executor or administrator of the estate is responsible for making and filing the inventory.

Law Terms rollover is A delayed tax that allows you to apply the profit you make selling your old house to pay for the new one without paying capital gains taxes on the profit. In order to rollover the profits, the new house must be more expensive than the old and the two sales must occur within two years of each other.