License Bond - Law Dictionary Search Results

Home Dictionary Name: license 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...

Bonded warehouse

Bonded warehouse, a warehouse licensed by the Commissioners of Customs and Excise for the storing of dutiable goods without payment of the duty until they are 'cleared,' i.e., taken away. So called owing to the bond into which it is necessary to enter in order to secure that the Crown does not lose the duty by the goods being removed into the country without payment. Goods in such a warehouse are said to be 'in bond.'...

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)...

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...

license

license [Anglo-French, literally, permission, from Old French, from Latin licentia, from licent- licens, present participle of licēre to be permitted, be for sale] 1 a : a right or permission granted by a competent authority (as of a government or a business) to engage in some business or occupation, do some act, or engage in some transaction which would be unlawful without such right or permission ;also : a document, plate, or tag evidencing a license granted b : revocable authority or permission given solely to one having no possessory rights in a tract of land to do something on that land which would otherwise be unlawful or a trespass compare easement, lease c : a grant by the holder of a copyright or patent to another of any of the rights embodied in the copyright or patent short of an assignment of all rights 2 : a defense (as to trespass) that one's act was in accordance with a license granted 3 a : freedom that allows or is used with irresponsibility b : disregar...

Licensed psychiatric hospital or licensed psychiatric nursing home

Licensed psychiatric hospital or licensed psychiatric nursing home, means a psychiatric hospital or psychiatric nursing home, as the case may be, licensed, or deemed to be licensed, under this Act. [Mental Health Act, 1987 (14 of 1987), s. 2 (f)]...

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...

cross-license

cross-license -censed -cens·ing : to license (a patent or invention) to another to use in return for a similar license [cross-licensed its patents with a Japanese company] ...

Licensed

Having a license permitted or authorized by license as a licensed victualer a licensed traffic...

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