cash bond

Definitions (2)

1. General: An arrangement wherein a party gives to another an amount of money to secure the fulfillment of an obligation. In cases where the party fails to comply with the obligation, the money is forfeited in favor of the latter.
2. Law: A transaction wherein a defendant deposits an amount of money to the court to secure his temporary release from jail. Defendants failing to appear before the court during their trial forfeit the cash bond. See also bail.

Use cash bond in a sentence

In many situations a cash bond can be used the same as money because it is a very liquid asset.

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