In general, a bond means that you offer your clients an extra level of financial security. In some cases, a deposit is used to assure your workers that you will pay them. Whether or not the law requires you to purchase coverage, this extra layer of protection could allow you to get more jobs and better workers. Let NFP know if you have any questions about the warranty. What does linked mean? Call us and we will show you the meaning of bonded. Thank you for giving me the opportunity to win your business. Once a person is in custody and charged with an alleged crime, they may be able to get out of jail by posting bail or receiving bail. A judge determines the amount of bail based on factors such as the seriousness of the alleged offense, the likelihood that the accused will commit further crimes after release, and the likelihood that the defendant will flee jurisdiction before trial. A judge may set bail at any amount that is not objectively inappropriate or deny bail altogether. The Eighth Amendment to the U.S. Constitution prohibits “excessive bail,” but does not say that courts are required to allow bail.
While bail officers are common in many states, several states make it illegal to post bail for profit; These states include Kentucky, Illinois, Wisconsin, Nebraska, and Oregon. Therefore, these bail agencies cannot operate from these states. It also makes it much more difficult for defendants arrested in those states to post bail. DEPOSIT, contract. A bond or deposit is an act by which the debtor obliges himself, his heirs, executors and administrators to pay a certain sum of money to another on a given day. But see 2 Shepl. 185. If that is all, the link is called a single simplex obligation; However, a condition is usually added that, if the debtor pays a lower amount or fails or refrains from a particular action, the obligation is null and void. 2 Bl. Com. 840.
The word ex vi termini liaison refers to a sealed instrument. 2 pp. and R. 502; 1 bald head. No. 129; 2 Porter, r. 19; 1 Black. No.
241; Harp. R. 434; 6 verm. No. 40. See condition; interest on money; Punishment. It is proposed to consider the following: 1. The form of a loan, that is, the words with which it may be made and the ceremonies required. 2.
The condition. 3. Enforcement or discharge. 2.- I. 1. There must be parties to an obligation, a debtor and a creditor: where security has been concluded on condition that the debtor pays twenty pounds to that person or persons; just as E.H. was to name and name the same person in his will and written will, and E.H. had not appointed a person to whom the same was to be paid, it was decided that the money should not be paid to E. H. Hob`s executors.
9. No particular form of words is necessary to establish an obligation, but all words that explain the intention of the parties and indicate that one is related to the other will suffice, provided that the ceremonies mentioned below have been observed. Shep. Touch. 367-8; Ferry. Abr. commitments, B; Com. Dig. Commitments, B 1. 3. – 2. It must be written, on paper or parchment, and if it is made on other materials, it is null and void.
Ferry. Abr. Undertakings, s. 4. – 3. It must be sealed, although it does not have to be mentioned in writing that it is sealed. What is sufficient sealing, see the case above and the word seal. 5. – 4. It must be given to the other by the party to whom it is linked.
Ferry. Abr. Commitments, C. However, delivery and acceptance can be done by a lawyer. The date is not considered as the content of an act, and therefore an obligation that has no date or an impossible date is always valid, provided that the actual date of its date or given, i.e. service, can be proved. 2 Bl. Com.
304; Com. Dig. Done, B 3; 3 calls, 309. See date. 6. – II. The condition is either for the payment of money or for the execution of something else. In the latter case, if the condition violates a rule of law which, at the time of its conclusion, is only right, practically impossible, uncertain or insensitive, only the condition is void and the binding character remains uniform and unconditional; for it is the folly of the debtor to contract such an obligation, from which he can never be released. If it is a malum in itself, the obligation itself is null and void, since the entire contract is illegal.
2 Bl. Com. 340; Ferry. Abr. Conditions, K, L; Com. Dig. Conditions, D 1, D 2, D 3, D 7, D 8. 7. – III. 1. If, by reason of the condition of an obligation, the act to be performed by the creditor is by nature temporary, such as the payment of a sum of money, the delivery of charters or the like, and no time limit is limited, it should be performed at an appropriate time. 6 Co.
31 Co. Lit. 208; Roles. Abr. 436. 8. – 2. A payment before the big day is good; Co. Lit. 212, a; or before action has been taken. 10 Mass 419; 11 Mass 217.
9. – 3. If the condition is to do something within a certain time frame, it can be done on the last day of the agreed time. Ferry. Abr. Conditions, p. 3. 10. – 4. If the condition is to do an action without time limit, the one who has the advantage can do it at any time. Com.