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| n. a bond provided by an insurance company through a bail bondsman acting as agent for the company, to secure the release from jail of an accused defendant pending trial. Usually there is a charge of 10 percent of the amount of the bond (e.g. Rs 1000 for a Rs 10,000 bond) and often the defendant must put up some collateral like a second deed of trust or mortgage on one's house. Upon acquittal, conviction, or other conclusion of the case, the bail bond is "exonerated" and returned to the insurance company. If the person who has been bailed out disappears and does not appear in court, the bond funds will be forfeited unless the defendant is found and returned.
| | ) A bond or obligation given by a prisoner and his surety, to insure the prisoner's appearance in court, at the return of the writ. |
Revision as of 11:16, 30 May 2024
) A bond or obligation given by a prisoner and his surety, to insure the prisoner's appearance in court, at the return of the writ.
