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Tennessee Attachment Bond Pursuant To TCA Section 29-6-115

State:
Tennessee
Control #:
TN-SKU-0515
Format:
Word
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Description

Attachment Bond Pursuant To TCA Section 29-6-115 Tennessee Attachment Bond Pursuant To TCA Section 29-6-115 is a type of surety bond that protects a plaintiff in a civil action from a defendant’s inability to pay a judgment. The bond is a written agreement between the plaintiff and the surety, which guarantees that the defendant will pay the amount of the judgment if it is awarded. The bond is used to protect the plaintiff from potential losses in the event that the defendant fails to comply with a court order or fails to pay the judgment. The bond is required in cases where the defendant is a non-resident of Tennessee or a resident of Tennessee but has insufficient assets or income to satisfy the judgment. There are two types of Tennessee Attachment Bond Pursuant To TCA Section 29-6-115: a limited bond and an unlimited bond. A limited bond is used for judgments up to $5,000 and requires a bond amount equal to the judgment amount. An unlimited bond is used for judgments over $5,000 and requires a bond amount of at least twice the judgment amount. The surety must be licensed to do business in the state of Tennessee and must guarantee performance of the bond.

Tennessee Attachment Bond Pursuant To TCA Section 29-6-115 is a type of surety bond that protects a plaintiff in a civil action from a defendant’s inability to pay a judgment. The bond is a written agreement between the plaintiff and the surety, which guarantees that the defendant will pay the amount of the judgment if it is awarded. The bond is used to protect the plaintiff from potential losses in the event that the defendant fails to comply with a court order or fails to pay the judgment. The bond is required in cases where the defendant is a non-resident of Tennessee or a resident of Tennessee but has insufficient assets or income to satisfy the judgment. There are two types of Tennessee Attachment Bond Pursuant To TCA Section 29-6-115: a limited bond and an unlimited bond. A limited bond is used for judgments up to $5,000 and requires a bond amount equal to the judgment amount. An unlimited bond is used for judgments over $5,000 and requires a bond amount of at least twice the judgment amount. The surety must be licensed to do business in the state of Tennessee and must guarantee performance of the bond.

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Tennessee Attachment Bond Pursuant To TCA Section 29-6-115