Demand Forfeiture Bond In Nevada
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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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NRS 178.502 Form of bail; extension of bond or undertaking to proceedings in other courts; exoneration; place of deposit. NRS 178.504 Justification of sureties.The bail process here in Nevada is fairly simple. 120, the claimant must notify the Secretary of State in writing upon filing the action. A claim against a bond filed pursuant to NRS 240A. Probation is a common criminal sentence in Nevada. What is the effect of forfeiture of bail? Unpaid bail forfeitures. When sureties or insurance companies are "on the board" for unpaid forfeitures, they can no longer post bonds in the state.
