lawi.us, 08 2014.
Encyclopedia of Law: The equivalent to a print encyclopedia with 178 volumes.
Surety explained. An entry made on a bail-piece, whereby the…. In Pennsylvania it has been decided that the creditor is bound to sue the principal when requested by the surety, and the debt is due; and that when proper notice is given by the surety that unless the principal be sued, be will consider himself discharged, he will be so considered, unless the principal be sued. (Workers’ Comp)., Risk & Insurance; February 1, 2003; Shutan, Bruce, Nuclear Surety Triad – Personnel, Equipment and Procedures, States News Service; August 17, 2012, Bonds, Sureties, and Insurance, Army Lawyer; January 1, 2007; Devine, Michael S, Obtaining surety bonds in a tightening market, American Agent & Broker; July 1, 2002; McIntyre, Marla, California Surety Outlook 2005., California Builder and Engineer; January 17, 2005, Qualify Your Surety Agent And Underwriter., Construction Digest; January 24, 2005; McIntyre, Marla, Zurich Surety, Credit & Political Risk Announces New Leadership., China Weekly News; March 30, 2010, How a Surety Team Prevents and Remedies Contractor Default: For Contractors and Lenders, Surety Underwriters and Surety Bond Producers Are a Valuable Resource. The risk s/he runs will not be increased in any manner without his/her consent, nor will the possibility of his/her immediately protecting himself/herself in the event of default will be lessened. Surety in the Environmental Law Portal of the American Encyclopedia of Law. 'All Intensive Purposes' or 'All Intents and Purposes'? Surety definition is - the state of being sure: such as. What Is The Difference Between “It’s” And “Its”? See “Suretyship.”.
Gratuitous Surety Law and Legal Definition. Their Experience and Knowledge Can Help Contractors Avoid Extreme Risks and Overcome Challenges, The RMA Journal; November 1, 2009; Ramsey, Marc, Qualifying Your Surety Agent., New England Construction; January 24, 2005; McIntyre, Marla, Liability in surety bond claims for extracontractual allegations, Federation of Insurance & Corporate Counsel Quarterly; July 1, 1997; Dykes, Osborne J Pate, Stephen, SBA Surety Bond Guarantee Program Helps Small Businesses Win over $6.1 Billion in Contracts in Fy 2013, States News Service; March 10, 2014.
Legal Documents of the 20th Century 10 Watts, 258. The surety differs from bail in this, that the latter actually has, or is by law presumed to have, the custody of his principal, while the former has no control over him. A trip to the principal’s office? Dictionary
"The views expressed in this entry are those of the author/s and do not necessarily reflect the views of the American Encyclopedia of Law. Current addresses can be found on the Contact Us page. A surety is one who at the request of another, and for the purpose of securing to him a benefit, becomes responsible for the performance by the latter of some act In favor of a third person, or hypothecates property as security therefor. I bowed unto his worship reverentially, thinking of a surety he meant me, and returned my best thanks in set language.
A surety bond is defined as a three-party agreement that legally binds together a principal who needs the bond, an obligee who requires the bond and a surety company that sells the bond.
A surety contract is a legally binding agreement that the signee will accept responsibility for another individual's contractual obligations, usually the payment of a loan if the principal borrower falls behind or defaults. ", Browse the American Encyclopedia of Law for Surety, Access Points to the American Encyclopedia of Law, Surety in United States Surety Definition A person who binds himself for the payment of a sum of money, or for the [...]. Unemployment benefits: What happens if you quit? 10 Types Of Nouns Used In The English Language. “Hallowmas” vs. “All Saints’ Day”: What’s The Day After Halloween Actually Called? A modification which alters the surety's obligation will discharge the surety.
Surety definition, security against loss or damage or for the fulfillment of an obligation, the payment of a debt, etc. Based on the Random House Unabridged Dictionary, © Random House, Inc. 2020, Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
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