forfeiture bond
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 271 U.S. 332 - United States v. Zerbey · 1926Most cited · 91 citing opinions
a bond executed to the Government in a specified penal sum prescribed by statute and intended as a fixed penalty imposed for a breach of a statutory duty, which is forfeited in its full amount by a breach of the condition irrespective of the actual damage thereby caused the Government