penal bond
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penal bond — A bond conditioned upon the performance of duties of office, or other obligations undertaken by the principal obligor in the bond or collateral things to be done by him. 12 Am J2d Bonds § 1. A bond conditioned upon the forfeiture of a penalty for … Ballentine's law dictionary
bond — 1 n 1 a: a usu. formal written agreement by which a person undertakes to perform a certain act (as appear in court or fulfill the obligations of a contract) or abstain from performing an act (as committing a crime) with the condition that failure … Law dictionary
penal — pe·nal / pēn əl/ adj 1: of, relating to, or being punishment penal sanctions 2: making one (as an offender) punishable a penal offense; also: criminal (2) 3: used as a place of con … Law dictionary
penal — Punishable; inflicting a punishment; containing a penalty, or relating to a penalty @ penal action In its broadest context, it refers to criminal prosecution. More particularly, it refers to a civil action in which a wrongdoer is subject to a… … Black's law dictionary
penal bill — Same as penal bond … Ballentine's law dictionary
penal sum — n: a sum to be paid as a penalty esp. under the terms of a bond Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
Penal colony — Epigraphy in honour of a prisoner in the Australian penal colony of Botany Bay. A penal colony is a settlement used to exile prisoners and separate them from the general populace by placing them in a remote location, often an island or distant… … Wikipedia
bond — Noun: The obligation secured by a mortgage or deed of trust; a corporate obligation. 19 Am J2d Corp § 1059; at common law, a sealed instrument or specialty. 34 Am J1st Lim Ac § 82; an obligation in writing which binds a signatory to pay a sum… … Ballentine's law dictionary
penal sum — noun 1. : a sum of money payable under a statute as a forfeiture for wrongdoing by the wrongdoer to the person wronged 2. : a sum of money or penalty agreed upon in a bond or in a contract to be paid to one party in case there is a breach of the… … Useful english dictionary
penal sum — The amount of the penalty specified in a bond or undertaking for its breach or non fulfilment … Ballentine's law dictionary
