“bail bonds” term is a guarantee that seeks to ensure the fulfillment of an obligation. However, it is a term that can be ambiguous, referring both to a security as a personal guarantee. The “bond”, strictly speaking, is a personal guarantee, under which ensures the fulfillment of a debt or obligation by the existence of a guarantor. The guarantor is a third person, foreign debt, which ensures compliance, undertaken to comply with what the debtor has not complied with by you (debtor subsidiary).
In civil law, the guarantor and the borrower are two different persons, linked by a figure that has a contractual appearance: contract of guarantee. The relationship between the creditor and the guarantor goes through the debtor. Another common use of the term “bond” in the legal field is to receive an amount of money as security for certain obligations. However, despite the name, the bond money is not so, but it is a case of irregular pledge, to be a real security, not personal.
There are several areas of law that appears in this figure.
- In contract law: the bond guarantees compliance with the obligations under a contract. For example, it is common to set a monetary bond in case of lease of properties to ensure compliance with the payment of lease rents and the return in good condition of the leased asset. Read details in bail bonds Warren County
- In criminal procedure, the bond money is delivered as a way of ensuring that the defendant has no intention of fleeing from justice. This is to prevent or lift a custody action.
In the event of a breach of the obligation secured, will depend on the particular case to establish what happens to the bond. For example, in contract law it is usual that the creditor use the bond to recover damages and losses. However, criminal procedural law a possible escape of the accused caused the total loss of money given as security, without costs or damages assessed.
