1. The sum of money which the obligor of a bond undertakes to pay by way of penalty, in tbe event of his omitting to perform or carry out the terms imposed npon him hy the conditions of the bond. Brown; Tayloe v. Sandlford, 7 wheat 13, 5 L. Ed. 384; watt v. Sheppard, 2 Ala. 445
Source: Black’s Law Dictionary 2nd Ed (1910)
