The definition of bond is the guarantee that seeks to guarantee the effective fulfillment of an obligation. The concept of bail usually used in two ways, as a personal guarantee and as a real guarantee.
The Real Guarantee
In the case of the first term, the bond ensures the fulfillment of a debt or an obligation through the existence of a guarantor, who is a third-person totally oblivious to the debt, who does not present any type of link or with which He lent the money or the one who received it. The guarantor guarantees the effective fulfillment of the bond, and in the event that the debtor cannot fulfill his obligation he himself would undertake to assume it. You can expect the best deals now Bail Bond Financing Business wichita ks.
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There are several types of bonds, as you can see below:
Conventional bond: arises with the will between the creditor and the debtor.
Legal bond: it is granted by updating a legal provision that provides the must to ensure a non-financial obligation that comes from a voluntary act or by provision of the law.
Judicial bond: claimed by the judges based on provisions of the Procedural Code in order to ensure the possible damages that the measure could cause.
- A bond contract implies the birth of an obligation for someone who agrees to respond to the eventual breach of a third party. If a debtor does not meet his creditor, who gives the bond must assume the debt.
- A conventional bond is generated from the will of the debtor and the creditor. A judicial bond, however, arises through a judicial resolution. There is also a legal bond, set by law to ensure that an obligation is met.
- It is common for the bail mechanism to be used when a person who is under criminal proceedings is provisionally released.
There are real bonds (cash or goods), personal bonds (a subject is responsible for ensuring compliance) and sworn bonds (an oath). In the event that the accused does not appear when called, the bond is considered lost.
Take the case of a former public official charged for the crime of embezzlement. This person is imprisoned until the judge gives him provisional release establishing a bail of 100,000 dollars. Upon depositing said amount in the account indicated by the judge, the former official recovers his freedom under certain conditions.