Dictionary of Law

bond :: legal definition

Bond - n. 1) written evidence of debt issued by a company with the terms of payment spelled out. A bond differs from corporate shares of stock since bond payments are pre-determined and provide a final payoff date, while stock dividends vary depending on profitability and corporate decisions to distribute. There are two types of such bonds: "registered," in which the name of the owner is recorded by the company and "bearer," in which interest payments are made to whomever is holding the bond. 2) written guaranty or pledge which is purchased from a bonding company (usually an insurance firm) or by an individual as security (called a "bondsman") to guarantee some form of performance, including showing up in court ("bail bond"), properly complete construction or other contract terms ("performance bond"), that the bonded party will not steal or mismanage funds, that a purchased article is the real thing, or that title is good. If there is a failure then the bonding company will make good up to the amount of the bond.

Related Law Terms

anticipatory breach :: n. when a party to a contract repudiates (reneges ... perform. See also: breach contract
articles of incorporation :: n. the basic charter of a corporation which spells ... year's taxes. See also: corporation
attorney's fee :: n. the payment for legal services. It can take sev ... ees in the particular type of case.
bail bond :: n. a bond provided by an insurance company through ... urned. See also: bail bail bondsman
blue sky laws :: n. laws intended to protect the public from purcha ... e sky." See also: corporation stock
capital stock :: n. the original amount paid by investors into a co ... price. See also: corporation stock
cashier's check :: n. a check issued by a bank on its own account for ... ansfers, tax payments and the like.
common stock :: n. stock in a corporation in which dividends (payo ... oration preferred stock share stock
company :: n. any formal business entity for profit, which ma ... s a corporation. See also: business
contract :: 1) n. an agreement with specific terms between two ... n oral contract unilateral contract
corporation :: n. an organization formed with state governmental ... ation public corporation securities
demand :: 1) v. to claim as a need, requirement or entitleme ... pay is made. See also: demand note
dividend :: n. a portion of profit, usually based on the numbe ... . See also: corporation shareholder
grace period :: n. a time stated in a contract in which a late pay ... the contract, i.e. your insurance.
holding company :: n. a company, usually a corporation, which is crea ... gement and policies of all of them.
incorporate :: v. 1) to obtain an official charter or articles of ... te by reference incorporation stock
installment contract :: n. an agreement in which payments of money, delive ... n contract failure of consideration
issue :: 1) n. a person's children or other lineal descenda ... the body incorporation share stock
law :: n. 1) any system of regulations to govern the cond ... um maritime law natural law statute
lease :: 1) n. a written agreement in which the owner of pr ... triple net lease unlawful detainer
leasehold :: n. the real estate which is the subject of a lease ... sehold. See also: condominium lease
merger :: n. 1) in corporate law, the joining together of tw ... and taking one, and wife the other.
option :: n. a right to purchase property or require another ... ng or upon expiration of the lease.
par :: n. 1) an equal level. 2) the face value of a stock ... common stock preferred stock stock
preemptive right :: n. the right of a shareholder in a corporation to ... also: corporation shareholder stock
preferred stock :: n. a class of shares of stock in a corporation whi ... on stock corporation dividend stock
promise :: 1) n. a firm agreement to perform an act, refrain ... so: consideration contract covenant
promissory note :: n. a written promise by a person (variously called ... lso: interest obligee obligor usury
promotional stock :: n. stock issued in a newly formed corporation and ... assets or money. See also: promoter
prospectus :: n. a detailed statement by a corporation required ... rporation limited partnership stock
securities :: n. generic term for shares of stock, bonds and deb ... ee also: bond debenture share stock
self-dealing :: n. in the stock market, using secret "inside" info ... ederal Securities and Exchange Act.
shareholder :: n. the owner of one or more shares of stock in a c ... : corporation shareholders' meeting
stock certificate :: n. printed document which states the name, incorpo ... . See also: corporation share stock
surety :: n. a guarantor of payment or performance if anothe ... or entity. See also: bond guarantor
transfer agent :: n. a person or company retained by a corporation t ... stockbroker. See also: share stock
treasury stock :: n. stock of a private corporation which was issued ... be entitled. See also: share stock
unissued stock :: n. a corporation's shares of stock which are autho ... poration share stock treasury stock
watered stock :: n. shares of stock of a corporation which have bee ... . See also: corporation share stock

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Other Law Terms - B

Bachelor of Laws :: n. the degree in law from a law school, abbreviate ... troactively. See also: Juris Doctor
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bad debt :: n. an uncollectible debt. The problem is to determ ... ust no income on which to be taxed.
bad faith :: 1) n. intentional dishonest act by not fulfilling ... ean hands doctrine fraud good faith
bail :: 1) n. the money or bond put up to secure the relea ... bond bail bondsman own recognizance
bail bond :: n. a bond provided by an insurance company through ... urned. See also: bail bail bondsman
bail bondsman :: n. a professional agent for an insurance company w ... t to jail. See also: bail bail bond
bailee :: n. a person, also called a custodian, with whom so ... he goods. See also: bailment bailor
bailiff :: n. 1) a court official, usually a deputy sheriff, ... isdictional territory of a bailiff.
bailment :: n. 1) the act of placing property in the custody a ... "bailment." See also: bailee bailor
bailor :: n. a person who leaves goods in the custody of ano ... is found. See also: bailee bailment
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balance due :: n. the amount of a debt still owed on an account o ... cipal due without further interest.
balance sheet :: n. the statement of the assets and the liabilities ... ctivity and health of the business.
bank :: n. 1) an officially chartered institution empowere ... erred to as "in bank" or "en banc."
bankruptcy :: n. a federal system of statutes and courts which p ... y proceedings trustee in bankruptcy
bankruptcy court :: n. the specialized federal court in which bankrupt ... : bankruptcy bankruptcy proceedings
bankruptcy proceedings :: n. the bankruptcy procedure is: a) filing a petiti ... ankruptcy court claim in bankruptcy
bar :: 1) n. collectively all attorneys, as "the bar," wh ... a room, building, or real property.
bar association :: n. an organization of lawyers. There are two types ... oluntary organization of attorneys.