Double Or Conditions Bond

Double or conditions bond, the ordinary form of bond came to be one accompanied by a condition in the nature of a defeasance, the performance of the condition generally being secured by a penalty. This form of bond is called a double or conditional bond, and consists of two parts: First, the obligation, and secondly, the condition, Guyana and Trinidad Mutual Fire Insurance Co. Ltd. v. R.K. Plummer & Associates Ltd., (1992) 8 Const LJ 171 PC