What does Bond stand for?

1. A written undertaking to perform or refrain from performing specified acts, usually guaranteed by a third party.

2. A security evidencing debt, specifying the date payment is due and usually specifying a rate of interest and its dates of periodic payment.

Source:

Mann, Richard A., and Barry S. Roberts. “Business Law and the Regulation of Business.” 12th Edition. Cengage Learning, 2020, pp. 457-461.

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