Legal Definition and Related Resources of Bond

A contract under seal to pay a sum of money ; a contract under seal acknowledging a debt, present or future. This is a single bond. A double bond is one where there is a condition added that if the obligor does or forbears from doing some act the obligation shall be void. A common illustration of this is the so- called performance Bond prevalent in the construction industry wherein construction projects involving large sums of money or on government or municipal lands, the owner requires that the contractor obtain such a bond from the insurance Industry to indemnify the owner against nonperformance by the contractor; such a bond would have the condition that in the event of the contractor performing the work, the bond would become void. The term is also used to denote instruments of indebtedness issued by companies or governments to secure the repayment of money borrowed by them; sometimes it is accompanied by a mortgage or hypothecation of the property of the borrower. Sometimes the mortgage is in favour of a trustee for the benefit of bond holders. Bonds to bearer or Bearer Bonds pass the title to the bond simply by delivery . Such bonds would have coupons attached to them and by delivery of the coupons on the due dates specified on them, interest on the bond can be collected. Also, the term denotes a contract between surety and government that surety will undertake that a defendant who has been released will appear at a specified time and place . See Williams v U.S., 444 F.2d 742.

A sealed obligation to pay money, either absolutely or conditionally. 2 Serg. & R. (Pa.) 502; 11 Ala. 19; 1 Harp. (S. C.) 434; 1 Blackf. (Ind.) 241; 6 Vt. 40; 1 Baldw. (U.S.) 129; 110 Mass. 454. It may be single, simplex obligatio, as where the obligor obliges himself, his heirs, executors, and administrators, to pay a certain sum of money to another at a day named, or it may be conditional (which is the kind more generally used), that if the obligor does some particular act, the obligation shall be void, or else shall remain in full force, as payment of rent, performance of covenants in a deed, or repayment of a principal sum of money borrowed of the obligee, with interest, which principal sum is usually one-half of the penal sum specified in the bond. The term is usually applied only to the latter class. 3 Redf. Sur. (N. y.) 459. Certificates of indebtedness issued by corporations and municipal and governmental bodies, are also known as bonds.

Bonds are debt and are issued for a period of more than one year. The U.S. government, local governments, water districts, companies and many other types of institutions sell bonds. When an investor buys bonds, he or she is lending money. The seller of the bond agrees to repay the principal amount of the loan at a specified time. Interest-bearing bonds pay interest periodically.

Basically an IOU or promissory note of a corporation, usually issued in multiples of $1,000 or $5,000, although $100 and $500 denominations are not unknown. A bond is evidence of a debt on which the issuing company usually promises to pay the bondholders a specified amount of interest for a specified length of time, and to repay the loan on the expiration date. In every case a bond represents debt – its holder is a creditor of the corporation and not a part owner, as is the shareholder. (See: Collateral, Convertible, Debenture, General mortgage bond, Income bond)

(Hold together), verb

• attach
• blend
• cement
• coagulate
• coalesce
• cohere
• combine
• conglutemate
• connect
• consolidate
• couple
• fix
• fuse
• glue
• interlock
• join
• merge
• secure
• stick
• unite

(Secure a debt), verb

• agree
• assure
• certify
• confirm
• contract
• covenant
• endorse
• ensure
• give security
• guarantee
• hypothecate
• indenture
• insure
• pledge
• post
• promise
• secure
• stake
• underwrite
• warrant

noun

• assurance
• certificate of debt
• certificate of indebtedness
• chirographum
• debenture
• evidence of a debt
• government paper
• guarantee
• guaranty
• indenture
• obligation
• promise
• promissory note
• real security
• security
• surety
• syngrapha
• voucher
• warrant
• warranty
• Associated Concepts: back bond
• bearer bond
• bond discount
• bond for costs
• bond for deed
• bond for title
• bond holder
• bond issue
• bond of matrimony
• bond premium
• bonded indebtedness
• bondsman
• cash bond
• construction bond
• coupon bond
• defense bond
• delivery bond
• fidelity bond
• governmental bond
• indemnity bond
• interestfree bond
• municipal bond
• ne exeat
• serial bond
• state bond
• supersedeas bond
• taxexempt bond

Browse or run a search for Bond in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.

Bond in Historical Law

You might be interested in the historical meaning of this term. Browse or search for Bond in Historical Law in the Encyclopedia of Law.

Search for legal acronyms and/or abbreviations containing Bond in the Legal Abbreviations and Acronyms Dictionary.

You might be also interested in these legal terms:

Translate Surety Bond from English to Spanish

Translation of Surety Bond , with examples. More about free online translation into Spanish of Fianza garantizada and other legal terms is available here.

• Fianza garantizada
• Fianza de seguridad
• Legal English Translation

What does Bond mean in American Law?

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

A promise, almost always sealed, to pay a sum of money upon the happening of an event-which may be, and frequently is, the passage of a certain period of time. (If not stipulating a fixed sum, the document may once have been more properly called an undertaking, but the distinction is now at best tenuous, especially with respect to surety bonds.)

Presently, bonds fall into three main categories. First, there are investment securities, bonds which are essentially pretentious promissory notes, ordinarily issued by corporations and governments. They may or may not be secured by specified property (see debenture).

The third use of bond occurs in the procedural law, to describe the promise by a person, often a professional bonding company or bondsman, to pay if the party to litigation defaults in an obligation, e.g., an appeal bond, a bail bond, etc. And “bond” is sometimes used in place of the word bail itself, as in “Lefty Louie made bond and took off for Venezuela.”

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English Spanish Translation of Bond

Caución (f.)

Find other English to Spanish translations from the Pocket Spanish English Legal Dictionary (print and online), the English to Spanish to English dictionaries (like Bond) and the Word reference legal translator.

Bond in Law Enforcement

Main Entry: Law Enforcement in the Legal Dictionary. This section provides, in the context of Law Enforcement, a partial definition of bond.

Meaning of Bond in Spanish

Description/ translation of bond into Spanish: fianza, pagaré, obligación; bondsman: fiador; property bond: fianza pignoraticia o hipotecaria, según los casos; unsecured bond: fianza (o parte de la fianza) no garantizada; execution of a bond: firma de un pagaré/ obligación[1]

Note: for more information on related terms and on the area of law where bond belongs (criminal procedure law), in Spanish, see here.

Notes and References

1. Translation of Bond published by Antonio Peñaranda

Resources

See Also

• Law Enforcement Officer
• Police Officer
• Law Enforcement Agency

Further Reading

• bond in A Dictionary of Law Enforcement (Oxford University Press)
• bond in the Encyclopedia of Law Enforcement
• A Treatise on the Police of the Metropolis

English Legal System: Bond

In the context of the English law, A Dictionary of Law provides the following legal concept of Bond :

1. A deed by which one person (the obligor) commits himself to another (the obligee) to do something or refrain from doing something. If it secures the payment of money, it is called a common money bond; a bond giving security for the carrying out of a contract is called a performance bond.

2. A document issued by a government, local authority, company, or other public body undertaking to repay long-term debt with interest. Bond issues are issues of debt securities by a borrower to investors in return for the payment of a subscription price.

Bond Definition (in the Accounting Vocabulary)

The New York State Society of Certified Public Accountants offers the following definition of Bond in a way that is easy for anybody to understand: One type of long-term PROMISSORY NOTE, frequently issued to the public as a SECURITY regulated under federal securities laws or state BLUE SKY LAWS. Bonds can either be registered in the owner’s name or are issued as bearer instruments.

United States Tax Concept of Bond

A written promise to repay a loan plus interest. Bonds usually have a maturity of more than one year. If you invest in bonds you will usually receive interest twice a year. Investors can buy bonds from a company or government entity, essentially loaning the company or government money. Municipal bonds are federal income tax free.

Concept of Bond in the context of Real Property

Alternatives definitions of Bond: (1) An insurance agreement by which one is insured against loss by acts or defaults of a third party. In construction, a performance bond insures that the builder will finish his project. The insured could be a lender, purchaser, or other interested party. (2) A method of financing long term debt, issued by a government or private corporation, which bears interest and has priority over stock in terms of security.

Concept of Bond in the context of Real Property

Alternatives definitions of Bond: (1) An insurance agreement by which one is insured against loss by acts or defaults of a third party. In construction, a performance bond insures that the builder will finish his project. The insured could be a lender, purchaser, or other interested party. (2) A method of financing long term debt, issued by a government or private corporation, which bears interest and has priority over stock in terms of security.

Bond

Bond

Hierarchical Display of Bond

Finance > Free movement of capital > Financial market > Securities
Finance > Financing and investment > Investment > Investment policy > Investment income

Meaning of Bond

Overview and more information about Bond

For a more comprehensive understanding of Bond, see in the general part of the online platform.[rtbs name=”xxx-xxx”]

Resources

Translation of Bond

• Spanish: Valor de renta fija
• French: Obligation financière
• German: Schuldverschreibung
• Italian: Obbligazione
• Portuguese: Obrigação financeira
• Polish: Obligacja

Thesaurus of Bond

Finance > Free movement of capital > Financial market > Securities > Bond
Finance > Financing and investment > Investment > Investment policy > Investment income > Bond

See also

• Investment income