refunding bond

A bond given to assure an executor that a legatee will return an estate distribution should the remaining estate assets be insufficient to pay the other legacies. [Cases: Executors and Administrators 299. C.J.S. Executors and Administrators § 541.]

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词条贡献者

译者Wendy，欧洲知名商学院国际金融专业，擅长翻译各种与私募基金相关的法律文件。