Bond

A writing under seal by which a person binds himself, his heirs, executors aiid administrators to pay a certain sum to another; usually with a condition added that if the maker, the obligor, does a specified act the obligation shall be void, otherwise remain of force; if without the condition it is called a single bond. An instrument of the nature of such a bond, but having also the qualities of a ne- gotiable instrument, made and issued by the state or by a corporation, municipal or private, for the purpose of borrowing money. Bond tenants: copyholders and customary tenants, v. Forthcoming bond: Income bond; Penalty; Refunding bond.