Dictionary from West's Encyclopedia of American Law. 2005.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.
principal — adj Chief; leading; most important or considerable; primary; original. Highest in rank, authority, character, importance, or degree. As to principal challenge principal contract principal obligation principal office principal vein, see those… … Black's law dictionary
principal — prin·ci·pal 1 / prin sə pəl/ adj 1: being the main or most important, consequential, or influential their principal place of business the principal obligor 2: of, relating to, or constituting principal or a principal the principal amount of the… … Law dictionary
Surety bond — A surety bond is a contract among at least three parties: * The principal the primary party who will be performing a contractual obligation * The obligee the party who is the recipient of the obligation, and * The surety who ensures that the… … Wikipedia
surety — One who at the request of another, and for the purpose of securing to him a benefit, becomes responsible for the performance by the latter of some act in favor of a third person, or hypothecates property as security therefor. One who undertakes… … Black's law dictionary
Surety — A surety is a person who agrees to be responsible for the debt or obligation of another. Furthermore, a surety is also a security against loss or damage or for the fulfillment of an obligation, the payment of a debt, etc.; a pledge, guaranty, or… … Wikipedia
surety — sure·ty / shu̇r ə tē/ n pl ties [Anglo French seurté, literally, guarantee, security, from Old French, from Latin securitat securitas, from securus secure] 1: a formal engagement (as a pledge) given for the fulfillment of an undertaking 2: one… … Law dictionary
Surety — Sure ty, n.; pl. {Sureties}. [OE. seurte, OF. se[ u]rt[ e], F. s[^u]ret[ e]. See {Sure}, {Security}.] 1. The state of being sure; certainty; security. [1913 Webster] Know of a surety, that thy seed shall be a stranger in a land that is not theirs … The Collaborative International Dictionary of English
Principal — Prin ci*pal, n. 1. A leader, chief, or head; one who takes the lead; one who acts independently, or who has controlling authority or influence; as, the principal of a faction, a school, a firm, etc.; distinguished from a {subordinate}, {abettor} … The Collaborative International Dictionary of English
principal — adj. & n. adj. 1 (usu. attrib.) first in rank or importance; chief (the principal town of the district). 2 main, leading (a principal cause of my success). 3 (of money) constituting the original sum invested or lent. n. 1 a head, ruler, or… … Useful english dictionary
surety — A person who engages under a contract of suretyship to answer for the debt, default, or miscarriage of another. 50 Am J1st Suret §§ 2, 3. For some purposes, inclusive of a guarantor. UCC § 1 201(40). As applied to persons, the word has an… … Ballentine's law dictionary
