Administration Bond - Law Dictionary Search Results
Home Dictionary Name: administration bondAdministration bond
Administration bond. The bond, usually for double the value of the property placed in possession of the administrator of the grant required under s. 167(1) of the (English) Jud. Act, 1925, as amended by the (English) Administration of Justice Act, 1928, Schedule 7, from every person to whom a grant of administration of a deceased person's estate has been made. As a rule, two sureties are also required. The conditions of the Bond are (1) to make and exhibit an inventory; (2) to administer according to law; (3) to exhibit any later will if found, and then deliver up the letters of administration. See (English) Jud. Act, 1925, and Probate Rules, 1925; and see ADMINISTRATION....
Administrator
Administrator, means the Administrator as referred to in clause (a) of section 2 of the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 (58 of 2002). [Income Tax Act, 1961, s. 80C(8)(i)].Administrator means a person appointed by competent authority to administer the estate of a deceased person when there is no executor. [Indian Succession Act (39 of 1925) s. 2(a)]--he to whom the property of a person dying intestate, or without executors appointed, accepting, or surviving, is committed by the Probate Court (now the Probate, Divorce and Admiralty Division of the High Court of Justice). (English) Supreme Court of Judicature (Consolidation) Act, 1925, s. 56(3). By the (English) Court of Probate Act,1857 (20 & 21 Vict. c. 77) (re-enacted in (English) Supreme Court of Judicature (Consolidation) Act, 1925, s. 175), 'Administration' includes all letters of administration of the effects of deceased persons, whether with or without the will annexed, and whether granted for ge...
Bail
Bail [fr. bailler, Fr., to hand over], to set at liberty a person arrested or imprisoned, on security being taken for his appearance on a day and at a place certain, which security is called bail, because the party arrested or imprisoned is delivered into the hands of those who bind themselves or become bail for his due appearance when required, in order that he may be safely protected from prison, to which they have, if they fear his escape, etc., the legal power to deliver him.Means a security such as cash or a bond, especially security required by court for the release of a prisoner who must appear at a further time, Black Law Dictionary, 7th Edn., p. 135.Bail, a temporary release of a prisoner in exchange for security given for the prisoner's appearance at a later hearing, Webster's Dictionary of Law, Indian Edn., (2005), p. 41.Bail may be given either in civil or criminal cases.In civil cases there were, before the abolition of arrest on mesne process by the Debtors Act, 1869:-(1)...
Retainer of debts
Retainer of debts. An executor or administrator (not being a creditor-administrator, who is now precluded from retaining by the form of the administration bond) has a legal right to retain his own debt out of the legal or equitable [(English) Administration of Estates Act, 1925, s. 34 (2)] assets in priority to all other creditors of equal degree, and before the costs of all parties, including the plaintiff (see EXECUTOR). The right is not affected by a judgment for administration [Re Barrett, (1889) 43 Ch D 70], nor by payment in to Court, Richmond v. White, (1879) 12 Ch D 361; but it cannot be exercised by a bankrupt administrator, Wilson v. Wilson, (1911) 1 KB 327. Since the (English) Administration of Estates Act, 1869, the right may be exercised against specialty as well as simple contract creditors [Re Hariss, (1914) 2 Ch 395]. Consult Williams or Ingpen on Executors; Seton on Judgments, 7th Edn., p. 1466....
Justifying security
Justifying security. Administrators in certain cases are required by the Court of Probate to give justifying security-i.e., the sureties to the administration bond must, in an affidavit, swear that they are, after the payment of their debts, worth a sum specified. Justifying security is required by the Court according to the circum-stances of each case, subject to the rule that whenever administration is granted in default of the appearance of persons cited, but not personally served with the citation, or for the use and benefit of a person of unsound mind, unless it is granted to a committee appointed by the Court of Chancery, justifying security must be given, Williams on Executors....
bond
bond 1 a : a usually formal written agreement by which a person undertakes to perform a certain act (as appear in court or fulfill the obligations of a contract) or abstain from performing an act (as committing a crime) with the condition that failure to perform or abstain will obligate the person or often a surety to pay a sum of money or will result in the forfeiture of money put up by the person or surety ;also : the money put up NOTE: The purpose of a bond is to provide an incentive for the fulfillment of an obligation. It also provides reassurance that the obligation will be fulfilled and that compensation is available if it is not fulfilled. In most cases a surety is involved, and the bond makes the surety responsible for the consequences of the obligated person's behavior. Some bonds, such as fidelity bonds, function as insurance agreements, in which the surety promises to pay for financial loss caused by the bad behavior of an obligated person or by some contingency over w...
Bond
Bond [fr. binda, band, bunden, A. S., to bind], a written acknowledgement or binding of a debt under seal. See DEED. No technical form of words is necessary to constitute a bond; see Gerrard v. Clowes, (1892) 2 QB 11; Strickland v. Williams, (1899) 1 QB 382. The person giving the bond is called the obligor, and he to whom it is given the obligee. A bond is called single (simplex obligatio) when it is without a penalty, but there is generally a condition added, that, if the obligor does or forbears from some act, the obligation shall be void, or else shall remain in full force, and the bond is then called a double or conditional one; see Dav. Prec. Vol. V., pt. Ii., p. 268. When a bond contains a penalty, which is generally double the amount of the principal sum secured, only the sum actually owing, with interest, can be recovered, and in no case can this exceed the amount appearing on the face of the bond. See 8 & 9 Wm. 3, c. 11, s. 8; Re Dixon, (1900) 2 Ch 561.Although it is unnecessa...
bail
bail [Anglo-French, act of handing over, delivery of a prisoner into someone's custody in exchange for security, from bailler to hand over, entrust, from Old French, from Latin bajulare to carry (a burden)] 1 : the temporary release of a prisoner in exchange for security given for the prisoner's appearance at a later hearing [while free on ] 2 : the security given for a prisoner's release ;also : the amount or terms of the security [excessive shall not be required "U.S. Constitution amend. VIII"] [posted cash ] [motion to reduce ] 3 : one who provides bail and is liable for the released prisoner's appearance [ may arrest or authorize arrest of principal "Code of Alabama"] jump bail : to flee the jurisdiction while released on bail make bail : to be released on bail vt 1 : to release on bail 2 : to obtain the release of by giving bail often used with out 3 : to place (personal property) under a bailment [identity of the article claimed to have been ed "Peet v. Roth Hotel...
Bail-bond
Bail-bond, an instrument prepared in the sheriff's office after an arrest, executed by two sufficient sureties and the person arrested, and conditioned for his causing special bail to be put in for him in the court out of which the arresting process issued, and in Admiralty Proceedings, see R.S.C. Orders, XII and XXIX.Means a bond given by a criminal defendant or by his or her surety to ensure compliance with the terms of bail and especially with the requirement that the defendant appears in court as scheduled, Webster's Dictionary of Law, Indian Edn., (2005), p. 55....
Surety bond
Surety bond, a surety bond is a contract and it is a question as to how far its terms can be considered to have been varied by any unilateral act. Each bond has to be construed on its own terms. But in construing the terms of a surety bond for the production of an accused person, the purpose and object of executing it must be kept in view. Such a bond is executed for the purpose of ensuring the presence of the accused concerned in Court in which he is standing his trial for a criminal offence at the hearing of the case. But for the execution of such a bond, the accused would have to remain in custody so that the trial may proceed smoothly, State of Maharashtra v. Dadamiya Babumiya Sheikh, AIR 1971 SC 1722 (1724): (1972) 3 SCC 85.In the case of fidelity guarantees the security is discharged if a material alteration takes place in the risk, e.g., change of duties, Pybus v. Gibb, (1856) 6 E&B 902, or upon non-disclosure by the person to whom the guarantee is given of a matter affecting th...
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