BOND

a deed or instrument of obligation in writing, whereby one person (or more) becomes bound to another or others to pay a sum of money, to abide by an award, or to do some lawful act, or not to do some particular thing or things specified in the condition of the bond. The person who gives the bond and so binds himself to do something is called the obligor, the person receiving the bond is called the obligee. If there is no stipulation in the bond that the obligor shall suffer any penalty in case of non-performance, the bond is called a simple one. But there is generally a condition added that if the obligor does some particular act, the obligation shall be void, or else shall remain in full force, as payment of rent, performance of covenants in a deed, or repayment of a principal sum of money borrowed of the obligee, with interest; which principal sum is usually one-half of the penal sum specified in the bond. In case this condition is net peif ormed the bond becomes forfeited or absolute at law, and charges the obligor while living, and after his death his personal representatives and his heirs, if the heirs be named in the bond. In case of a failure to perform the condition of the bond, the obligee can recover only his principal, interest, and expenses; if the bond were given to secure the payment of money, or if it were given to secure the performance of a covenant, he can recover only reasonable damages for the breach. A bond stipulating either to do something which is malum in se or malum prohibitum (that is, either wrong in itself, or forbidden by law whether wrong in itself or not), or to omit the doing of something which is a duty, or to encourage such crimes and omi ions, is void. Bonds to procure marriage (or marriage brocage bonds), or to restrain msuriage, or for immoral considerations, such as future (but not past) cohabitation, and also in total but not partial restraint of trade, are void (Wharton). No person who cannot legally enter into a contract can become an obligor, though such a person may become an obligee. A married woman, or an infant, or a lunatic, therefore, though they cannot grant a bond, may have bonds granted them, by which the obligor must abide. No BONDAGE— particular form of words is easential to the validity of a bond; but it must be stamped and sealed. Scotland bonds differ somewhat in form from those drawn up in England, and they do not require to sealed. BONDAGE. See Villenaob. 283