common law bond

A performance bond given by a construction contractor.

• A common-law bond exceeds the requirements of a statutory performance bond because it provides additional coverage for construction projects. Cf. PERFORMANCE BOND. [Cases: Principal and Surety 65, 66(1). C.J.S. Principal and Surety §§ 70, 72–73, 75.]

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词条贡献者

法律翻译Jenna，欧洲顶尖商学院国际经济法专业，专注翻译各类与投资基金和私募股权有关的法律文件。