How to understand what a bond is in a legal matter

what is a bond

Instructions

Difficulty: Easy

Things You’ll Need:

• civil or criminal case

1. 1. In criminal cases: A promise or contract to perform a specified act or pay a penalty for failure to perform, usually guaranteed by a surety who promises to pay if the principal defaults, or by deposit of money as a cash bond. Bond is basically the same as bail in criminal cases.
2. 2. In civil cases: A person who contracts to pay if another person defaults, a surety. The surety can then collect from the principal. Not the same as insurance.
3. Good luck