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LSDefine

Simple English definitions for legal terms

compensated surety

Read a random definition: constitutor

A quick definition of compensated surety:

Compensated Surety: A person who promises to pay someone else's debt or do something for them if they can't do it themselves. Unlike an insurance company, a compensated surety usually doesn't get paid for taking on this responsibility. They are different from a guarantor because they are directly responsible for the debt or obligation.

A more thorough explanation:

A compensated surety is a person who is primarily responsible for paying off someone else's debt or fulfilling their obligations. Unlike an insurer, a compensated surety receives payment for assuming liability. This is different from a guarantor, who is only liable to the creditor if the debtor fails to meet their obligations. The compensated surety is directly liable.

For example, if a contractor hires a subcontractor to complete a project, the contractor may require the subcontractor to provide a compensated surety bond. This bond ensures that the subcontractor will fulfill their obligations, and if they fail to do so, the surety will pay for any damages or losses incurred by the contractor.

Another example is when a person is released on bail. The bail bondsman acts as a compensated surety, ensuring that the person will appear in court. If the person fails to appear, the bondsman is responsible for paying the full bail amount.

These examples illustrate how a compensated surety assumes liability and is responsible for fulfilling the obligations of another person.

compensate | compensating balance

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just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
8:57
There’s someone I found on here with the username threeoutchange and if my understanding is correct that’s a reference to the debut album by a pretty cool 90s-00s Japanese band called Supercar. I geeked a little
8:57
It could just be a baseball reference I don’t get though lol
Dkk
9:00
@renard99: also, the same band that does a song in the anime Eureka 7 which I watched when I was like idk, 12
9:00
Yeah! They are pretty good. Three Out Change is an awesome J-rock record
Dkk
9:01
I will probably not listen to them more but fun fact. Really random to start the day. An omen that the waves will be very random today.
Dkk
9:03
Fuck, reading the wikipedia now. Literal last song they did before they broke up was Storywriter. Wow.
9:05
That one is a masterpiece
9:05
My favorite song by them is Recreation
glovediedthisishismom
9:05
snowing
Dkk
9:07
@renard99: man, hard to find.
Dkk
9:07
@glovediedthisishismom: Congrats on the snow.
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