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Below are types of bonds and why they were used. If you have another type of bond and its use, please send it in to me!
Marriage bonds: At a time when communication between different locales was poor, marriage bonds had to be posted for a set period of time before marriage was permitted. This was to help insure that both parties were free to marry---no living spouses in the closet etc. A couple could post a "marriage bond" to guarantee that no such impediment to the marriage existed and go ahead with an immediate marriage. If such an impediment was later found the bond was forfeited. The bond was high because the matter was serious, but there was no cost unless some irregularity was found. -Ray Wilson
A marriage bond was required in those days so that if the husband died or 
	left his wife, she would not be a burden on the county or state. The amount 
	paid for the bond would be used to support her. We no longer have to post 
	such a bond because we have the welfare system. We only pay a small fee for 
	the marriage license. Some states had a higher price than $100 for the 
	bonds. In North Carolina there was a law that a man had to pay a $500 bond 
	for a bastard child (if he got caught and the lady took him to court, that 
	is!) so that the child was taken care of. Bonds also had to be paid by an 
	executor of an estate to assure that he did not mishandle the estate funds.
	
Sometimes there was several days, months or even one year between the 
	posting of the marriage bond and the actual marriage date. Some bonds show 
	the minister's statement with the date of the marriage at the bottom of the 
	bond and other times the minister would simply make a record in his book 
	which he usually took with him from one church to another, and you will only
	find the bond in that case unless you can find a record of the "Minister's 
	Returns"--meaning his book with marriages, births, baptism or death. In 
	other cases, the Justice of the Peace or Clerk of the Court would record the 
	marriage date and certify to the marriage, usually at the bottom of the 
	bond.
 -Veva in VA
"The Source," by Loretta Szucs and Sandra 
	Luebking. This wonderful book answers any question about any subject that 
	the genealogist might have. This is their explanation about marriage bonds:
	
"Marriage bonds were not required by all colonies or states but have 
	been common in the South. Bonds were posted prior to the issuing of the 
	required marriage license in some states and were the sold documents 
	required in others. Bonds were posted by the groom alone or with a second 
	person, usually the father or the brother of the bride, to defray the costs 
	of litigation in the event the marriage was nullified."
"Bonds were 
	posted in the jurisdiction where the marriage was to take place, often in 
	the bride's home county. These bonds, the only marriage records maintained 
	in some jurisdictions, were usually annotated with the marriage date after 
	the ceremony. It was rare for a marriage not to take place within a few days 
	of the posting of the bond, even though many bonds do not bear the 
	annotation. Although the missing information could mean that the marriage 
	did not take place, more often it reflects poor record keeping or failure of 
	the justice or minister to report the marriage to local officials."
I 
	believe I am correct in saying that money did not actually pass hands. But 
	the bond insures that if the man did not marry the woman, then he had to pay 
	the amount shown on the bond. Once of the reasons this was done was that 
	many couples began to live together after engagement. And if the marriage 
	did not take place, then the woman's reputation could be ruined. So, the 
	bond insured his intention to marry her. -Janice B. Palmer
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