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GLOSSARY

GLOSSARY TERMS by Alpha
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Jacket
Jewelers block insurance
Joint and several liability
Joint Underwriting Association (JUA)
Joint venture
Jones Act
Judicial bonds
Jumbo risk

Judicial bonds

Two types of bonds available to guarantee faithful performance of court appointed duties. Fiduciary bonds guarantee the faithful performance of persons entrusted by the courts in the management, conservation, and disposition of property. Litigation bonds (or "court bonds") are required in court actions. Bail bonds and appeals bonds are litigation bonds; where the bond amount is forfeited if the bonded person disappears or the appeal is lost.

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