SURETY BOND

A bond that is issued by a surety who guarantees performance should the obligated party fail to meet its obligations. … [Read more...] about SURETY BOND

contracts. A person who binds himself for the payment of a sum of money or for the performance of something else, for another, who is already bound for the same. A surety differs from a guarantor, and the latter cannot be sued until after a suit against the principal. 10 Watts, 258. 2. The surety differs from bail in this, that the latter actually has, or is by law presumed to … [Read more...] about SURETY

In French law. A party desirous of repurchasing property at auction before the court can, by offering one-tenth or one-sixth, according to the case, in addition to the price realized at the sale, oblige the property to be put up once more at auction. This bid upon a bid is called a "aurenchere." Arg. Fr. Merc Law, 575. … [Read more...] about SURENCHERE

Lat. In the civil law. Deaf; a deaf person. Inst. 2, 12, 3, Burdus et mutus, a deaf and dumb person. … [Read more...] about SURDUS

chancery practice. When a bill is filed to open an account, stated, liberty is sometimes given to the plaintiff to surcharge and falsify such account. That is, to examine not only errors of fact, but errors of law. Law Dictionary - Alternative Legal Definition (noun) - an over charge, an exaction, Impost, or incumbrance beyond what is just and right, or beyond one's authority … [Read more...] about SURCHARGE