Bond
Pronunciation: bǒnd
| n. | 1. | 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. |
| 2. | The state of being bound; imprisonment; captivity, restraint. |
| 3. | A binding force or influence; a cause of union; a uniting tie; as, the bonds of fellowship. |
| 4. | Moral or political duty or obligation. |
| 5. | (Law) 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. |
| 6. | A financial instrument (of the nature of the ordinary legal bond) made by a government or a corporation for purpose of borrowing money; a written promise to pay a specific sum of money on or before a specified day, given in return for a sum of money; as, a government, city, or railway bond. |
| 7. | The state of goods placed in a bonded warehouse till the duties are paid; as, merchandise in bond. |
| 8. | (Arch.) 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 bond 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. |
| 9. | (Chem.) A unit of chemical attraction between atoms; as, oxygen has two bonds of affinity. Also called chemical bond. It is often represented in graphic formulæ by a short line or dash. See Diagram of Benzene nucleus, and Valence. Several types of bond are distinguished by chemists, as double bond, triple bond, covalent bond, hydrogen bond. |
| 10. | (Elec.) A heavy copper wire or rod connecting adjacent rails of an electric railway track when used as a part of the electric circuit. |
| 11. | League; association; confederacy. |
| v. t. | 1. | 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. |
| 2. | (Arch.) To dispose in building, as the materials of a wall, so as to secure solidity. |
| n. | 1. | A vassal or serf; a slave. |
| a. | 1. | In a state of servitude or slavery; captive. |
BOND, 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 day 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.
Fannie Mae,
Federal Agency bond,
Ginnie Mae,
Oregon boat,
Series E bond,
Series H bond,
accident insurance,
accord,
accouple,
accumulate,
actuary,
addition,
adherence,
adhesion,
adhesive,
adjunct,
adjustment bond,
affairs,
affiliation,
affinity,
affixation,
agglomeration,
agglutinate,
agglutination,
aggregation,
agreement,
allegiance,
alliance,
amass,
annexation,
annuity,
annuity bond,
appreciation bond,
approximation,
arrangement,
articulate,
articulation,
assemblage,
assemble,
assented bond,
associate,
association,
assumed bond,
assurance,
assure,
attest,
aviation insurance,
baby bond,
back,
bail,
bail bond,
band,
bargain,
be sponsor for,
bearer bond,
bearer certificate,
bilbo,
bind,
binding,
binding agreement,
bona fides,
bond anticipation note,
bonds,
bonne foi,
bottomry,
bracket,
bracketing,
bridge,
bridge over,
bridle,
business life insurance,
callable bond,
camisole,
cartel,
casualty insurance,
cement,
certificate of insurance,
certify,
chain,
chains,
checks,
clap together,
clasping,
cling,
clinging,
closeness,
clustering,
cohere,
coherence,
cohesion,
collar,
collateral trust bond,
collect,
collective agreement,
combination,
combine,
communication,
compact,
comprise,
concatenate,
concatenation,
concourse,
concurrence,
confirm,
confluence,
congeries,
conglobulate,
conglomeration,
conjoin,
conjugate,
conjugation,
conjunction,
connect,
connectedness,
connective,
consolidated annuities,
consolidated stock,
consols,
consortium,
constancy,
constraints,
contiguity,
contract,
contract by deed,
contract of record,
contract quasi,
contrariety,
controls,
convention,
convergence,
convertible bond,
convertible debenture,
copulate,
copulation,
cords,
corporate bond,
corporation stock,
countersecure,
couple,
coupling,
coupon bond,
coupon rate,
court bond,
covenant,
covenant of indemnity,
covenant of salt,
cover,
credit insurance,
credit life insurance,
cuffs,
current income bond,
current yield,
deal,
dealings,
debenture,
debenture bond,
deductible,
deduction,
deed,
deed of trust,
deed poll,
deep-discount bond,
defense bond,
deferred bond,
definitive bond,
deposit,
devotedness,
devotion,
dicker,
discount bond,
disjunction,
earnest,
earnest money,
embrace,
employment contract,
encompass,
endorse,
endowment insurance,
engagement,
ensure,
equipment bond,
equipment note,
equipment trust,
equipment trust bond,
equipment trust certificate,
escrow,
extended bond,
faith,
faithfulness,
family maintenance policy,
fastening,
fealty,
fetter,
fetters,
fidelity,
fidelity bond,
fidelity insurance,
filiation,
firmness,
first mortgage bond,
firsts,
flood insurance,
formal agreement,
formal contract,
fraternal insurance,
gag,
gage,
gather,
gathering,
general mortgage bond,
general obligation bond,
girding,
glue,
go bail,
good faith,
government bond,
government insurance,
group policy,
guarantee,
guaranteed bond,
guaranty,
gyves,
halter,
hamper,
handcuffs,
handsel,
health insurance,
high-grade bond,
hobbles,
hock,
hold together,
homage,
homology,
hooking,
hookup,
hopples,
hostage,
hypothecate,
impignorate,
implied contract,
include,
income bond,
indemnity,
indent,
indenture,
industrial life insurance,
insurance,
insurance agent,
insurance broker,
insurance company,
insurance man,
insurance policy,
insure,
interchangeable bond,
intercommunication,
intercourse,
interim bond,
interinsurance,
interlinking,
interrelationship,
intimacy,
ironclad agreement,
irons,
join,
joinder,
joining,
joint bond,
jointure,
junction,
knot,
knotting,
lashing,
lay together,
leading strings,
league,
leash,
legal agreement,
legal contract,
liability insurance,
liaison,
license bond,
ligament,
ligation,
ligature,
limited payment insurance,
linkage,
linking,
loyalty,
lump together,
mainprise,
major medical insurance,
malpractice insurance,
manacle,
marine insurance,
marriage,
marry,
marshal,
mass,
meeting,
merge,
merger,
merging,
mobilize,
mortgage,
mortgage bond,
mortgage deed,
municipal bond,
mutual agreement,
mutual attraction,
mutual company,
muzzle,
nearness,
negotiable bond,
nexus,
nominal rate,
nonnegotiable bond,
ocean marine insurance,
optional bond,
pact,
paction,
pair,
pairing,
par bond,
parol contract,
participating bond,
pawn,
permit bond,
perpetual bond,
piece together,
pignus,
pillory,
pledge,
policy,
post,
premium bond,
promise,
promissory note,
propinquity,
protocol,
proximity,
purchase money bond,
put in hock,
put in pawn,
put together,
put up,
rapport,
recognizance,
refunding bond,
registered bond,
registered certificate,
reins,
relatedness,
relation,
relations,
relationship,
replevin,
replevy,
restraint,
restraints,
revenue bond,
robbery insurance,
roll into one,
ropes,
savings bond,
second mortgage bond,
seconds,
secure,
secured bond,
security,
shackle,
shackles,
sign,
sign for,
similarity,
small bond,
social security,
solder,
span,
special contract,
specialty,
specialty contract,
splice,
sponsor,
spout,
stake,
stand behind,
stand up for,
state bond,
staunchness,
steadfastness,
stick,
stick together,
sticking,
stipulation,
stock company,
stocks,
stocks and bonds,
straightjacket,
strait-waistcoat,
straitjacket,
stranglehold,
subscribe to,
surety,
symbiosis,
sympathy,
take in,
tape,
tax anticipation note,
tax-free bond,
term insurance,
tether,
theft insurance,
tie-in,
tie-up,
tieing,
ties,
title deed,
token payment,
trammel,
trammels,
transaction,
treasury bond,
treaty,
troth,
true blue,
trueness,
trust indenture,
trustee mortgage bond,
undersign,
understanding,
undertaking,
underwrite,
underwriter,
unification,
unify,
union,
union contract,
unite,
unsecured bond,
vadimonium,
vadium,
valid contract,
vinculum,
voting bond,
wage contract,
war bond,
warrant,
warranty,
weld,
yield to maturity,
yoke,
yoking,
zipping
bond - a certificate of debt (usually interest-bearing or discounted) that is issued by a government or corporation in order to raise money; the issuer is required to pay a fixed sum annually until maturity and then a fixed sum to repay the principal
bond - (criminal law) money that must be forfeited by the bondsman if an accused person fails to appear in court for trial; "the judge set bail at $10,000"; "a $10,000 bond was furnished by an alderman"