Bond

Note: The following are general definitions. Any particular term may be defined differently by a particular statute, case law, or the definitions section of the document in question. Consult legal counsel before acting on any information contained in this website.


Bond

(As of January 2008. Definitions and statutes may change after this date.)

A bond is a type of insurance policy that guarantees that a legal representative will carry out his duties. Should the legal representative fail to perform as specified in the contract, the bond guarantees that a certain amount of money be paid to the injured party.