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Simple English definitions for legal terms

statutory bond

Read a random definition: demand letter

A quick definition of statutory bond:

Statutory bond: A type of bond that is required by law. It can serve different purposes, such as ensuring that a contractor will complete a project or that a public official will perform their duties honestly. Statutory bonds are often used in the construction industry and in government contracts.

A more thorough explanation:

A statutory bond is a type of bond that is required by law. It is a legal agreement between three parties: the principal (the person or company that needs the bond), the obligee (the person or company that requires the bond), and the surety (the company that provides the bond).

There are two types of statutory bonds:

  1. License and permit bonds: These bonds are required by government agencies to ensure that businesses and individuals comply with laws and regulations. For example, a contractor may need a license bond to ensure that they will follow building codes and regulations.
  2. Court bonds: These bonds are required by courts to ensure that individuals comply with legal decisions. For example, a person who is appointed as a guardian may need a court bond to ensure that they will act in the best interest of the person they are appointed to protect.

Examples of statutory bonds include:

  • A contractor's license bond
  • A notary public bond
  • A guardian bond
  • A probate bond

These examples illustrate how statutory bonds are used to ensure that individuals and businesses comply with laws and regulations, and to protect the interests of others. For example, a contractor's license bond ensures that the contractor will follow building codes and regulations, which protects the safety of the public. A guardian bond ensures that the guardian will act in the best interest of the person they are appointed to protect, which protects the vulnerable person from harm.

statutory | statutory burglary

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BulbasaurNoLikeCardio
15:40
I think babycat just wants me close for when she gets into Uchicago lol For me the locations of the school and environment around it matters a lot
soap
15:42
Are you in an open marriage?
babycat
15:42
@BulbasaurNoLikeCardio: aw of course I want you around but I was thinking of the 7sage diversity statement in their admissions course where this guy writes about how he and his wife take in foster kids. he got into NW with below median LSAT. you have significant past adversity and interesting work experience I would shoot your shot
babycat
15:43
and I honestly don't think the t14 require significantly more intellect than any other law school. the content is pretty much the same
15:44
the rigor of the T14 law schools is almost entirely the result of who they allow to attend
BulbasaurNoLikeCardio
15:44
Well so far Vandy is highest ranked I went for, hopefully they like me. Its not really the academics/rigor. Following rules and meeting standard is easy it is the competition for class rank and with other students that I think would be my greatest struggle
JumpySubsequentDolphin
15:45
but doesn’t grade inflation at the top schools almost make it easier to get higher grades than it does at >t14
babycat
15:45
@info-man: agreed
babycat
15:48
just my opinion but grade inflation is probably more of an undergrad thing since law school grades tend to be on a curve
shaquilleoatmeal
15:49
Leaving the office just now and this chic is blasting glorilla in the elevator...doesn't match our work location vibe lmao
shaquilleoatmeal
15:49
shits gonna be stuck in my head all night now
glovediedthisishismom
15:50
northwestern has a dude with a murder charge in their class this year dont they
shaquilleoatmeal
15:50
what^^
shaquilleoatmeal
15:50
no way
HopefullyInLawSchool
15:50
2 next year
glovediedthisishismom
15:50
google it shaq some dude got his degree in prison and is now at nw
HopefullyInLawSchool
15:50
Bro is studying to beat the charges
shaquilleoatmeal
15:52
While representing himself in court, McKinley's sentence was reduced from 100 years to 25, a sentence he served in full. While still incarcerated, he took the LSAT, or Law School Admission Test, and applied to law school - no shit, thats impressive how much he lowered his sentence being pro say
JumpySubsequentDolphin
15:52
@HopefullyInLawSchool: that made me lol
babycat
15:52
there was a convicted rapist admitted to some southern law school not too long ago
shaquilleoatmeal
15:53
smh
glovediedthisishismom
15:53
fun fact gangs specifically have all their shooters be 12-16 year olds so they can go to juvee and get their charges sealed like nothing happened
shaquilleoatmeal
15:56
yo, what should i pick up for dinner?? Cava or Sweetgreen
glovediedthisishismom
15:56
sweetgreen
glovediedthisishismom
15:56
i wish i had one close to me
babycat
15:56
shaq how did your date with Uber girl go?
soyalmondoatmilk
15:57
OMG I LOVE SWEETGREEN
shaquilleoatmeal
15:57
lmaooo oh man i gotta find a way to make a long story short - sg it is ! What do you guys usually get? I'm tired of my same old same old
soyalmondoatmilk
15:57
i love the harvest bowl
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