bond

Definition:

(n.) That which binds, ties, fastens, or confines, or by which anything is fastened or bound, as a cord, chain, etc.; a band; a ligament; a shackle or a manacle.

(n.) The state of being bound; imprisonment; captivity, restraint.

(n.) A binding force or influence; a cause of union; a uniting tie; as, the bonds of fellowship.

(n.) Moral or political duty or obligation.

(n.) A writing under seal, by which a person binds himself, his heirs, executors, and administrators, to pay a certain sum on or before a future day appointed. This is a single bond. But usually a condition is added, that, if the obligor shall do a certain act, appear at a certain place, conform to certain rules, faithfully perform certain duties, or pay a certain sum of money, on or before a time specified, the obligation shall be void; otherwise it shall remain in full force. If the condition is not performed, the bond becomes forfeited, and the obligor and his heirs are liable to the payment of the whole sum.

(n.) An instrument (of the nature of the ordinary legal bond) made by a government or a corporation for purpose of borrowing money; as, a government, city, or railway bond.

(n.) The state of goods placed in a bonded warehouse till the duties are paid; as, merchandise in bond.

(n.) The union or tie of the several stones or bricks forming a wall. The bricks may be arranged for this purpose in several different ways, as in English or block bond (Fig. 1), where one course consists of bricks with their ends toward the face of the wall, called headers, and the next course of bricks with their lengths parallel to the face of the wall, called stretchers; Flemish bond (Fig.2), where each course consists of headers and stretchers alternately, so laid as always to break joints; Cross bond, which differs from the English by the change of the second stretcher line so that its joints come in the middle of the first, and the same position of stretchers comes back every fifth line; Combined cross and English bond, where the inner part of the wall is laid in the one method, the outer in the other.

(n.) A unit of chemical attraction; as, oxygen has two bonds of affinity. It is often represented in graphic formulae by a short line or dash. See Diagram of Benzene nucleus, and Valence.

(v. t.) To place under the conditions of a bond; to mortgage; to secure the payment of the duties on (goods or merchandise) by giving a bond.

(v. t.) To dispose in building, as the materials of a wall, so as to secure solidity.

(n.) A vassal or serf; a slave.

(a.) In a state of servitude or slavery; captive.

Related Terms:

added, administrator, affinity, altern, alternate, alternately, alway, always, appoint, appointed, arranged, attract, attraction, ayme, benzene, bind, binding, block, borrow, borrowing, brick, captive, captivity, chain, chemic, chemical, combine, combined, comes, confine, conform, corpora, corporation, dash, diagram, dispose, duties, etcher, executor, faith, faithful, fastened, fellowship, fers, fifth, flemish, flesh, forfeit, forfeited, formula, formulae, future, gram, graphic, hack, hackle, header, himself, imprison, inner, laid, lain, lave, laver, liable, ligament, ligation, manacle, merchand, merchandise, mort, mortgage, next, ney, nucle, nucleus, obligation, obligor, orf, orfe, organ, otherwise, otic, outer, oxygen, paid, parallel, payment, performed, politic, political, presented, prison, prisonment, railway, remain, resented, restraint, retch, seal, secure, serf, servitude, shack, shackle, shall, slav, slave, slaver, slavery, solidity, specified, straint, stretch, stretcher, ternate, tret, uniting, valence, vassal, void, ware, warehouse

Embedded:

back-bond, backbond, bail bond, post-obit bond, stocks and bonds, vagabond, vagabondage, vagabondism, vagabondize, vagabondry

Legal Application:

contract. An obligation or bond is a deed whereby the obligor, obliges himself, his heirs, executors and administrators, to pay a certain sum of money to another at a day appointed. But see 2 Shepl. 185. If this be all, the bond is called a single one, simplex obligatio; but there is generally a condition added, that if the obligor pays a smaller sum, or does, or omits to do some particular act, the obligation shall be void. 2 Bl. Com. 840. The word bond ex vi termini imports a sealed instrument. 2 S. & R. 502; 1 Bald. R. 129; 2 Porter, R. 19; 1 Blackf. R. 241; Harp. R. 434; 6 Verm. R. 40. See Condition; Interest of money; Penalty. It is proposed to consider: 1. The form of a bond, namely, the words by which it may be made, and the ceremonies required. 2. The condition. 3. The performance or discharge.

2.-I. 1. There must be parties to a bond, an obligor and obligee : for where a bond was made with condition that the obligor should pay twenty pounds to such person or persons; as E. H. should, by her last will and testament in writing, name and appoint the same to be paid, and E. H. did not appoint any person to, whom the same should be paid, it was held that the money was not payable to the executors of E. H. Hob. 9. No particular form of words are essential to create an obligation, but any words which declare the intention of the parties, and denote that one is bound to the other, will be sufficient, provided the ceremonies mentioned below have been observed. Shep. Touch. 367-8; Bac. Abr. Obligations, B; Com. Dig. Obligations, B 1.

3. - 2. It must be in writing, on paper or parchment, and if it be made on other materials it is void. Bac. Abr. Obligations, A.

4. - 3. It must be sealed, though it is not necessary that it should be mentioned in the writing that it is sealed. As to what is a sufficient sealing, see the above case, and the word Seal.

5. - 4. It must be delivered by the party whose bond it is, to the other. Bac. Abr. Obligations, C. But the delivery and acceptance may be by attorney. The date is not considered of the substance of a deed, and therefore a bond which either has no date or an impossible one is still good, provided the real day of its being dated or given, that is, delivered, can be proved. 2 Bl. Com. 304; Com. Dig. Fait, B 3; 3 Call, 309. See Date.

6. - II. The condition is either for the payment of money, or for the performance of something else. In the latter case, if the condition be against some rule of law merely, positively impossible at the time of making it, uncertain or insensible, the condition alone is void, and the bond shall stand single and unconditional; for it is the folly of the obligor to enter into such an obligation, from which he can never be released. If it be to do a thing malum in se, the obligation itself is void, the whole contract being unlawful. 2 Bl. Com. 340; Bac. Abr. Conditions, K, L; Com. Dig. Conditions, D 1, D 2, D 3, D 7, D 8.

7. - III. 1. When, by the condition of an obligation, the act to be done to the obligee is of its own nature transitory, as payment of money, delivery of charters, or the like, and no time is limited, it ought to be performed in convenient time. 6 Co. 31 Co. Lit. 208; Roll. Abr. 436.

8. - 2. A payment before the day is good; Co. Lit. 212, a; or before action brought. 10 Mass. 419; 11 Mass. 217.

9.-3. If the condition be to do a thing within a certain time, it may be performed the last da of the time appointed. Bac. Abr. Conditions, P 3.

10. - 4. If the condition be to do an act, without limiting any time, he who has the benefit may do it at what time he pleases. Com. Dig. Conditions, G 3.

11. - 5. When the place where the act to be performed is agreed upon, the party who is to perform it, is not obliged to seek the opposite party elsewhere; nor is he to whom it is to be performed bound to accept of the performance in another place. Roll. 445, 446 Com. Dig. Conditions, G 9 Bac. Abr. Conditions, P 4. See Performance.

12. - 6. For what amounts to a breach of a condition in a bond see Bac. Abr. Conditions, 0; Com. Dig. Conditions, M; and this Dict. tit. Breach.

Related Actions:

acceptance, attorney, below, benefit, breach, charter, date, delivery, discharge, ex vi termini, executor, fait, hart, imports, insensible, intention, lex, livery, malum in se, materials, obligation, pays, penal, penalty, performance, porter, positive, pound, release, roll, rule of law, simple, simplex, single, substance, testament, transitory, unconditional, unlawful

The information contained on this page is taken from multiple sources in the public domain, including GNU version of the Collaborative International Dictionary of English. While no copyright is asserted on information taken from public domain sources, the compilation and cross-referencing of these and other materials is protected under copyright and other intellectual property laws. The application and understanding of legal process is in a constant state of change. Some of this information may be outdated or inaccurate. Before relying on any legal information or concept you should seek the counsel of a competent legal professional.

  

John Q. Lawyer

Attorney at Law

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