What is the legal definition of Bond?
In the legal context, Bond means (a) A fiduciary bond is similar to an insurance policy because it represents an arrangement where one party (the “surety”) agrees, for a fee, to pay money or perform an obligation in the event the fiduciary (trustee, conservator, executor) fails to properly perform its duties. (b) An investment bond is a promise by the issuing company to repay a loan/investment at the end of a term, plus interest.
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