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An obligation is a legal bond (vinculum iuris) by which one or more parties (obligants) are bound to act or refrain from acting. An obligation thus imposes on the obligor a duty to perform, and simultaneously creates a corresponding right to demand performance by the obligee to whom performance is to be tendered.
Usually, a surety bond or surety is a promise by a person or company (a surety or guarantor) to pay one party (the obligee) a certain amount if a second party ...
A limited-tax general obligation pledge requires a local government to levy a property tax sufficient to meet its debt service obligations but only up to a statutory limit. Generally, local governments already levy a property tax and can choose to use a portion of the property tax it already levies, use some other revenue stream, or increase ...
The United States first instituted a statutory debt limit with the Second Liberty Bond Act of 1917. This legislation set limits on the aggregate amount of debt that could be accumulated through individual categories of debt (such as bonds and bills). In 1939, Congress instituted the first limit on total accumulated debt over all kinds of ...
In 1966, Congress enacted the Bail Reform Act, which expanded the bail rights of federal criminal defendants by giving non-capital defendants a statutory right to be released pending trial, on their personal recognizance or on personal bond, unless a judicial officer determined that such incentives would not adequately assure the defendant's appearance at trial.
The bond required to obtain a stay of execution of a judgment while the judgment is being appealed is a supersedeas bond, also referred to as an appeal bond." [9] In Texas, the amount of a supersedeas bond (referred to as "security for judgments pending appeal" in the Texas Civil Practice and Remedies Code) is determined as follows: [10]
U.S. Treasury Secretary Scott Bessent's pledge to contain yields on 10-year Treasury notes met some skepticism in the bond market on Thursday, as inflationary pressures and expectations of a ...
statutory lien—a lien arising solely by force of statute. tax lien—a lien on property and all rights to property imposed by the taxing authority for unpaid taxes. [27] vendee's lien—a buyer's lien on the purchased land as security for repayment of purchase money paid in, enforceable if the seller cannot or does not convey good title.