BOND, an obligatory instrument, or deed, in writing, whereby one binds him self to another to pay a certain sum of money, or perform some certain acts ; as that the obligorshall make a release, ex ecute a sufficient conveyance of his estate, save the obligee harmless, perform the covenants of a deed, &c.
A bond contains an obligation with a pena.ty, and a condition generally written under it, which expressly mentions the sum that is to be paid, or other thing to be performed, and to whom, with the li mited time thereof, for which the obliga tion is peremptorily binding.
The condition of a oond must be to do something lawful ; for if it be to perform an act =awn in se, as to kill a person, &c. it is void ; likewise bonds not to use trades, &c. are unlawful and void : so also are bonds made by compulsion, by in fants, and feme coverts, &c. but it a drunk en man voluntarily gives his bond, it shall bind him ; and a bond, though it be with out any consideration, is binding. Where a bond has no date, or a false one is in serted therein, if it be sealed and deliver ed, it is a good bond : and a person shall not be charged by any bond, though sign ed and sealed, without delivery, or words, or other thing, amounting to it Notwith standing a bond be made to pay money on the 30th of February, and there be no such day, the bond is good, and the money shall be paid presently. It is the
sante if no time is limited ; in that case it must be immediately paid, or in conve nient time.
If a bond be of twenty years standing, and no demand is proved to be made thereon, or good cause shewn for so long forbearance, upon pleading the payment at the day, it shall be intended paid.
Bolin, post obit, is one that becomes payable after the death of some person, whose name is specified in it. The life of a person being uncertain, the risk attach ed to such bonds frees them from the shackles of the common law of usury.