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Welcome To Contract Easily! ( Consult, Contract, Share,download Legal Matters Easily )
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Stamp paper is not included with this agreement and is for illustration purposes only. If e -stamp is applicable in your city you can order it during checkout.
Stamp paper is not included with this agreement and is for illustration purposes only. If e -stamp is applicable in your city you can order it during checkout.
Guidelines for Drafting a Security Bond for Staying Execution of Decree (Order 41, Rule 5):
A security bond to stay execution of a decree under Order 41, Rule 5 of the Code of Civil Procedure (CPC) is filed when an appellant seeks a temporary suspension of the execution process pending the appeal. Follow these guidelines for an effective bond:
Specify the Purpose: Clearly state that the bond is intended to secure the decree amount and costs pending the appeal. Define the purpose of the bond with precision.
Mention the Appellants: Clearly mention the names of all appellants on whose behalf the bond is executed. Avoid ambiguity in identifying the parties involved.
Provide Security Details: Clearly specify the nature and value of the security being offered, whether in the form of cash, fixed deposit, or any other acceptable form. The value should cover the decree amount and estimated costs.
Compliance with Court Order: Ensure the bond complies with the court's order. Adherence to specific terms and conditions mentioned in the court order is crucial for its acceptance.
Common Mistakes to Avoid:
Inadequate Security: Ensure that the value of the security is sufficient to cover the entire decree amount and anticipated costs. Inadequate security may lead to the rejection of the bond.
Ambiguous Terms: Clearly define the terms and conditions of the bond. Ambiguities may cause confusion, and the court may require clarification before accepting the bond.
Late Filing: File the bond within the court's stipulated time frame. Delayed submissions may affect the court's decision on staying the execution.
Lack of Notarization: If required by local rules, ensure the bond is properly notarized. Failure to comply with notarization requirements may result in the rejection of the bond.
By adhering to these guidelines and avoiding common mistakes, you can draft a comprehensive security bond under Order 41, Rule 5 CPC, enhancing the chances of the court granting a stay on the execution of the decree during the appeal process.