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Surety
SuretyContracts. A person who binds himself for the payment of a sum of money or for the performance of something else, for another, who is already bound for the same. A surety differs from a guarantor, and the latter cannot be sued until after a suit against the principal. RELATED TERMS-------------------------------------- Person This word is applied to men, women and children, who are called natural persons. Payment 1) Contracts. That which is given to execute what has been promised; or it is the fulfilment of a promise. Solvere dicimus cum quis fecit, quod facere promisit. But though this is the general acceptation of the word, yet by payment is understood, every way by which the creditor is satisfied or ought to be, and the debtor, liberated for example, an accord and satisfaction will operate as a payment. 2) Pleadings. The name of a plea by which the defendant alleges that he has paid the debt claimed in the declaration; this plea must conclude to the country. Money Gold, silver, and some other less precious metals, in the progress of civilization and commerce, have become the common standards of value; in order to avoid the delay and inconvenience of regulating their weight and quality whenever passed, the governments of the civilized world have caused them to be manufactured in certain portions, and marked with a Stamp which attests their value; this is called money. Performance The act of doing something; the thing done is also called a performance. Surety Contracts. A person who binds himself for the payment of a sum of money or for the performance of something else, for another, who is already bound for the same. A surety differs from a guarantor, and the latter cannot be sued until after a suit against the principal. Guarantor Contracts. He who makes a guaranty. Suit An action. The word suit in the 25th section of the judiciary act of 1789, applies to any proceeding in a court of justice, in which the plaintiff pursues, in such court, the remedy which the law affords him. An application for a prohibition is therefore a suit. Principal 1) This word has several meanings. It is used in opposition to accessary, to show the degree of crime committed by two persons; thus, we say, the principal is more guilty than the accessary after the fact. 2) Contracts. One who, being competent to contract, and who is sui juris, employs another to do any act for his own benefit, or on his own account. 3) Criminal law. A principal is one who is the actor in the commission of a crime. SIMILAR TERMS-------------------------------------- Surety bond A bond purchased at the expense of the estate to insure the executor's proper performance. Also referred to as "fidelity bond." Surety of the peace Criminal lawA security entered into before. Some competent court or officer, by a party accused, together with some other person, in the form of recognizance to the commonwealth in a certain sum of money, with, a condition that the accused shall keep the peace towards all the citizens of the commonwealth. A security for good behaviour is a similar recognizance with a condition that the accused shall be of good behaviour. Suretyship Contracts. An accessory agreement by which a person binds himself for another already bound, either in whole or in part, as for his debt, default or miscarriage. PREVIOUS AND NEXT TERMS-------------------------------------- Supreme That which is superior to all other things; as the supreme power of the state, which is an authority over all others. The supreme court, which is superior to all other courts. Supreme court The court of the highest jurisdiction in the United States, having appellate jurisdiction over all the other courts of the United. States, is so called. Its powers are examined under the article Courts of the United States. Sur A French word which signifies upon, on. It is very frequently used in connexion with other words as, sur rule to take deposition, sur trover and conversion, and the like. Sur cui ante divortium The name of a writ issued in favor of the heir of the wife, where the hushand alienated the wife's lands, during the coverture, and afterwards they were divorced and she died, to recover the lands from the alienee. Surcharge Chancery practice. When a bill is filed to open an account, stated, liberty is sometimes given to the plaintiff to surcharge and falsify such account. That is, to examine not only errors of fact, but errors of law. Surety Surety bond A bond purchased at the expense of the estate to insure the executor's proper performance. Also referred to as "fidelity bond." Surety of the peace Criminal lawA security entered into before. Some competent court or officer, by a party accused, together with some other person, in the form of recognizance to the commonwealth in a certain sum of money, with, a condition that the accused shall keep the peace towards all the citizens of the commonwealth. A security for good behaviour is a similar recognizance with a condition that the accused shall be of good behaviour. Suretyship Contracts. An accessory agreement by which a person binds himself for another already bound, either in whole or in part, as for his debt, default or miscarriage. Surgery med. jur. That part of the healing art which relates to external diseases; their treatment; and, specially, to the manual operations adopted for their cure. Surname A name which is added to the christian name, and which, in modern times, have become family names. We thank you for using the Juridical Dictionary to search for Surety. If you have a better definition for Surety than the one presented here, please let us know by making use of the suggest a term option. This definition of Surety may be disputed by other professionals. Our attempt is to provide easy definitions on Surety and any other medical topic for the public at large.
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