Simple English definitions for legal terms
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A penal bond is a type of bond that includes a penalty clause, which means that if the person who signed the bond fails to fulfill their obligations, they will have to pay a certain amount of money as a punishment. A penal code is a set of laws that define different types of crimes and their punishments.
Definition: A penal bond is a type of bond that includes a penalty clause. The penalty clause specifies that if the terms of the bond are not met, the person who signed the bond will have to pay a certain amount of money as a penalty.
Example: John signs a penal bond with his landlord when he moves into his apartment. The bond includes a penalty clause that states that if John damages the apartment, he will have to pay $1000 as a penalty.
Explanation: In this example, the penal bond includes a penalty clause that specifies the consequences if John damages the apartment. If John does damage the apartment, he will have to pay $1000 as a penalty. This penalty clause is meant to ensure that John takes good care of the apartment and does not cause any damage.