Demand For Bonds Factors In Massachusetts
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A Bond is a document with which one party promises to pay another within a specified amount of time. The term "demand" means that the principal plus any interest is due on demand by the bondholder rather than on a specific date. Bonds are used for many things, including borrowing money or guaranteeing payment of money. A bond can be given to secure performance of particular obligations, including the payment of money, or for purposes of indemnification. The validity of a "private" bond, payable upon demand, is determined by the same principles applicable to contracts generally. The purpose of the bond must not be contrary to public policy; it must be supported by a valuable consideration; and there must be a clear designation of the obligor and the obligee. A bond procured through fraud or duress may be unenforceable, but mistake on the part of the obligor as to the contents of a bond, or its legal effect, is not a defense to enforcement of the bond.
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Construction bonds, also known as performance and payment bonds (and, in some cases, bid bonds), shift the risk of contractor defaults from the public project. How can I buy Commonwealth of Massachusetts Bonds?Bonds shall name the first justice of the court making the appointment and his successors as obligee for the benefit of the persons interested in the estate. Can I get bonded with bad credit? Under Massachusetts law, claims against them can only be made 'in accordance with their terms'. This piece takes a closer look at how we, at Breckinridge, think about this everevolving process of building state preference municipal bond portfolios. This guide provides information for insurance agents to help their customers effectively obtain a Massachusetts Mortgage Lender Bond. Different types of contractors in Massachusetts need a surety bond to get licensed. Find out the basics about the MA contractor license bond requirements. Open market purchases raise bond prices, and open market sales lower bond prices.
