family law

Absolute

Definition

1) Property: Used in property law to describe an estate that is free from any limitations at all.  Only a fee simple may be absolute.

2) Divorce: An absolute divorce is a final judgment of divorce that dissolves the marriage and allows both parties to remarry.  It severs all spousal rights-- parties may no longer inherit from one another and all survivorship rights in property are considered as held jointy in common.

 

Surety bond

Sometimes, when a party owes others legal duties, the party posts a surety bond to guarantee their performance. The surety bond is like a security deposit, with the party promising to do something as the renter and person they owe obligations to, or obligee, is like the landlord. Thus, if the party that made the promise fails to perform their duty, the obligee is compensated out of the bond. 

 

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