A ____ bond is provided on behalf of a party to a proceeding to cover losses caused by delay or deprivation of the use of property resulting from the institution of the action.
A) judicial
B) fidelity
C) performance
D) bail

Question

Quizplus · Accepted Answer

A judicial bond is provided on behalf of a party to a proceeding to cover losses caused by delay or deprivation of the use of property resulting from the institution of the action. The other options (fidelity, performance, and bail bonds) are used for different purposes, such as guaranteeing the performance of a contract, covering losses caused by employee dishonesty, or ensuring the appearance of a defendant in court.

A ____ Bond Is Provided on Behalf of a Party