Rusty is arrested in Manhattan. He calls Saul's Bonding company to post the $25,000 bond required for his release from jail. In this situation,Saul's Bonding is the:

Question

Quizplus · Accepted Answer

Saul's Bonding company as the one posting the bond is acting as a surety, which is a third party who agrees to be responsible for the debt, default or obligation of another. In this case, Saul's Bonding company is agreeing to be responsible for Rusty's $25,000 bail bond. The obligee would be the court system, which requires the bond to ensure Rusty's appearance in court, and the insurer would provide insurance coverage, which is not relevant in this situation.

Rusty Is Arrested in Manhattan