Demand For Bonds Decreases In Queens
Category:
State:
Multi-State
County:
Queens
Control #:
US-00415BG
Format:
Word;
Rich Text
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Description
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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This notice is not a required filing. However, any party on a public project can deliver to the public body a Demand for Notice of Completion.Predict what will happen to interest rates if prices in the bond market become more volatile. In summary, rising expected inflation rates lead to decreased bond demand, increased bond supply, and higher interest rates in the bond market. This report from New York City Comptroller Scott M. Stringer documents the role that money bail plays in New York City's criminal justice system. The Bonds are direct and general obligations of The Port Authority of New York and New Jersey pledging the full faith and credit of the Port.
