“Further, no potential obligee of the fund benefits from this growth of the fund as the state has not defaulted, and will not default, on any payment of an obligation to return claimed property.”

Il importe que nous soyons d’accord sur cette question avant de prendre une décision définitive relativement à l’alimentation en courant alternatif et je vous serais très obligée de me dire votre opinion.

Bond is the agreement by the obligor of a contract to pay a certain forfeit to the obligee, if the former does not perform his contract or does not perform it before a certain date.

Its design is to secure that the obligor, i.e. the person giving the bond, will either pay a sum of money, or do or refrain from doing some act; and for this purpose the obligor binds himself in a penalty to the obligee, with a condition added that, if the obligor pays the sum secured—which is usually half the penalty—or does or refrains from doing the specified act, the bond shall be void: otherwise it shall remain in full force.

The obligee assigns the particular breaches of which he complains, damages in respect of such breaches are assessed, and, on payment into court by the obligor of the amount of such damages, the court enters a stay of execution.