statutory bond

statutory bond
A bond required by statute. A bond which either literally or substantially meets the requirements of statute. Southern Surety Co. v. United States Cast Iron Pipe & Foundry Co. (CCA) 13 F2d 833. A distinction is made between a common-law bond and a statutory bond in that the latter is one which conforms to a statute, while the former does not, although it may have been so intended. Mt. Vernon v Brett, 193 NY 276, 86 NE 6, 10.

Ballentine's law dictionary. . 1998.

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Look at other dictionaries:

  • statutory bond — noun : court bond …   Useful english dictionary

  • statutory — Relating to a statute; created or defined by a statute; required by a statute; conforming to a statute @ statutory bond One that either literally or substantially meets requirements of statute. Southern Surety Co. v. United States Cast Iron Pipe… …   Black's law dictionary

  • bond — A certificate or evidence of a debt on which the issuing company or governmental body promises to pay the bondholders a specified amount of interest for a specified length of time, and to repay the loan on the expiration date. A long term debt… …   Black's law dictionary

  • bond — A certificate or evidence of a debt on which the issuing company or governmental body promises to pay the bondholders a specified amount of interest for a specified length of time, and to repay the loan on the expiration date. A long term debt… …   Black's law dictionary

  • Statutory Debt Limit — A debt limit established under the Second Liberty Bond Act of 1917 that limits the amount of public debt that can be outstanding. The Statutory Debt Limit, or debt ceiling, prevents the U.S. Treasury from issuing new debt once the limit has been… …   Investment dictionary

  • Bond of Association — The Bond of Association was a document created in 1584 by Francis Walsingham and William Cecil, Lord Burghley after the failure of the Throckmorton Plot in 1583.ContentsThe document obliged all signatories to execute any person that: *attempted… …   Wikipedia

  • Municipal bond — Financial markets Public market Exchange Securities Bond market Fixed income Corporate bond Government bond Municipal bond …   Wikipedia

  • General obligation bond — A general obligation bond is a common type of municipal bond in the United States that is secured by a state or local government s pledge to use legally available resources, including tax revenues, to repay bond holders.Most general obligation… …   Wikipedia

  • common-law bond — An obligation in writing and under seal. 12 Am J2d Bonds § 1; a bond voluntarily executed by a public officer in the absence of any constitutional or statutory provision requiring him to furnish a bond. 43 Am J1st Pub Of § 411 …   Ballentine's law dictionary

  • voluntary bond — A bond executed by a public officer where no constitutional or statutory provision requires a bond of him. 43 Am J1st Pub Of § 411 …   Ballentine's law dictionary

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