knowledgment of being bound for money, conditioned to be void on the performance of any duty, or the occurrence of anything therein expressed, and subscribed and delivered by the party making it, to take effect as his obligation, whether it be sealed or unsealed; and, when a bond is required by law, an undertaking in writing without seal shall be sufficient. Rev. Code Miss. 1880, § 19.
The word "bond" has with us a definite legal signification. It has a clause, with a sum fixed as a penalty, binding the parties to pay the same, conditioned, however, that the payment of the penalty may be avoided by the performance by some one or more of the parties of certain acts. In re Fitch, 3 Redf. Sur. (N. Y.) 459.
Bonds are either single (simple) or double, (conditional.) A single bond is one in which the obligor binds himself, his heirs, etc., to pay a certain sum of money to another person at a specified day. A double (or conditional) bond is one to which a condition is added that if the obligor does or forbears from doing some act the obligation shall be void. Formerly such a condition was sometimes contained in a separate instrument, and was then called a "defeasance."
The term is also used to denote debentures or certificates of indebtedness issued by public and private corporations, governments, and municipalities, as security for the repayment of money loaned to them. Thus, "railway aid bonds" are bonds issued by municipal corporations to aid in the construction of railroads likely to benefit them, and exchanged for the company's stock.
In old Scotch law. A bond-man; a slave. Skene.
—Bond and disposition in security. In Scotch law. A brand and mortgage on land.—Bond and mortgage. A species of security, consisting of a bond conditioned for the repayment of a loan of money, and a mortgage of realty to secure the performance of the stipulations of the bond. Meigs v. Bunting, 141 Pa. 233, 21 Atl. 588, 23 Am. St. Rep. 273.—Bond creditor. A creditor whose debt is secured by a bond.—Bond for title. An obligation accompanying an executory contract for the sale of land, binding the vendor to make good title upon the performance of the conditions which entitle the vendee to demand a conveyance. White v. Stokes, 67 Ark. 134, 53 S. W. 1060.—Bond tenants. In English law. Copyholders and customary tenants are sometimes so called. 2 Bl. Comm. 148.—Official bond. A bond given by a public officer, conditioned that he shall well and faithfully perform all the duties of the office. The term is sometimes made to include the bonds of executors, guardians, trustees. etc.—Simple bond. At common law, a bond without penalty; a bond for the payment of a definite sum of money to a named obligee on demand or on a day certain. Burnside v. Wand, 170 Mo. 531, 71 S. W. 337, 62 L. R. A. 427.—Single bond. A deed whereby the obligor obliges himself, his heirs, executors, and administrators, to pay a certain sum of money to the obligee at a day named, without terms of defeasance.
BOND, v. To give bond for, as for duties on goods; to secure payment of duties, by giving bond. Bonded, secured by bond. Bonded goods are those for the duties on which bonds are given.
BONDAGE. Slavery; involuntary personal servitude; captivity. In old English law, villenage, villein tenure. 2 Bl. Comm. 92.
BONDED WAREHOUSE. See Warehouse System.
BONDSMAN. A surely; one who has entered into a bond as surety. The word seems to apply especially to the sureties upon the bonds of officers, trustees, etc., while bail should be reserved for the sureties on recognizances and bail-bonds. Haberstich v. Elliott, 189 Ill. 70, 59 N. E. 557.
BONES GENTS. L. Fr. In old English law. Good men, (of the jury.)
BONI HOMINIES. In old European law. Good men; a name given in early European jurisprudence to the tenants of the lord, who judged each other in the lord's courts. 3 Bl. Comm. 349.
Boni judicis est ampliare jurisdictionem. It is the part of a good judge to enlarge (or use liberally) his remedial authority or jurisdiction. Ch. Prec. 329; 1 Wils. 284.
Boni judicis est ampliare justitiam. It is the duty of a good judge to enlarge or extend justice. 1 Burr. 304.
Boni judicis est judicium sine dilatione mandare executioni. It is the duty of a good judge to cause judgment to be executed without delay. Co. Litt. 289.
Boni judicis est lites dirimere, ne lis ex lite oritur, et interest reipublicæ ut sint fines litium. It is the duty of a good judge to prevent litigations, that suit may not grow out of suit, and it concerns the welfare of a state that an end he put to litigation. 4 Coke, 15b; 5 Coke, 31a.
BONIS CEDERE. In the civil law. To make a transfer or surrender of property, as a debtor did to his creditors. Cod. 7, 71.
BONIS NON AMOVENDIS. A writ addressed to the sheriff, when a writ of error has been brought, commanding that the person against whom judgment has been obtained be not suffered to remove his goods till the error be tried and determined. Reg. Orig. 131.
BONIFICATION. The remission of a tax, particularly on goods intended for export, being a special advantage extended by government in aid of trade and manufactures, and having the same effect as a bonus or drawback. It is a device resorted to for enabling a commodity affected by taxes to
