BONDS

Appeal Bond - A bond filed with a court by a party against whom a judgment has been rendered, in order to stay execution of the judgment pending appeal to a higher court. The bond guarantees that the judgment will be satisfied if determined to be correct.

Court Bonds - A general term embracing all bonds and undertakings required of participants in a lawsuit permitting them to pursue certain remedies in the courts.

Fiduciary Bond - A bond required of administrators, executors, guardians, committees, etc. guaranteeing faithful performance of duty in accordance with the laws applicable to the position. (See also Probate Bond.)

Injunction-Plaintiff's Bond to Secure - An injunction is a judicial process whereby the defendant is required to perform or refrain from performing a particular act. An order granting an injunction may be conditioned upon the plaintiff furnishing a bond to indemnify the defendant against loss in case it finally is decided that the injunction should not have been granted.

Injunction-Defendant's Bond to Dissolve - When an injunction has been issued, the court may order the injunction dissolved upon the giving of a bond. The bond is conditioned to pay damages the plaintiff may sustain as a result of the performance of the act or acts originally forbidden or ordered by the court if it is decided the injunction was proper. The defendant then may proceed as if the injunction never had been issued.

Lost Instrument Bond - A bond given by the owner of a valuable security (stock, bond, promissory note, certified check, etc.) alleged to have been lost, stolen or destroyed. The bond protects the issuer of the security against loss which may result from the issuance of a duplicate security or, in some instances, payment of the cash value of the security.

Probate Bond - A bond, customarily filed in a probate court, that guarantees an honest accounting and faithful performance of duties by administrators, trustees, guardians, executors, and other fiduciaries. (See also Fiduciary Bond.)

Replevin-Plaintiff's Bond to Secure - Replevin is an action to recover possession of specific articles of personal property. The Replevin Bond, which the plaintiff is required to furnish, is conditioned for the return of the property, if return is ordered, and for the payment of all costs and damages adjudged to the defendant.

Replevin-Defendant's Bond to Recover Property Replevied - Where personal property has been replevied, the defendant may, by the furnishing of a bond, regain possession of the property pending final decision on the merits. The bond is conditioned for redelivery of the property to the plaintiff if ordered to do so, or otherwise to comply with a court order or judgment.

Supersedeas Bond - A bond to supersede or take the place of a judgment. (See also Appeal Bond.)