Bond And Mortgage

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A legal instrument that is written evidence of an obligation, traditionally under… (Read more)

What does Bond And Mortgage mean in American Law?

The definition of Bond And Mortgage in the law of the United States, as defined by the lexicographer Arthur Leff in his legal dictionary is:

The more complete term for what is usually just called a mortgage, emphasizing that the device includes both a promise to pay a sum of money (the bond) and a lien on the property given as security for the payment (the mortgage).