Real Estate Broker at Legal Glossary
What is it? A real estate professional one step up from a real estate agent. A broker has more training and can supervise agents, but its still worth examining his or her loyalties.Law Definition Added By: Ellie
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Law Terms bond is (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 Terms equitable estoppel is See estoppel.
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