04-08-2024, 01:14 PM
Daily Beast:
First and foremost, the bond posted specifies, in print, something that kind of defeats the whole concept of a bond.
Bonds are supposed to be a third party showing that (in exchange for a fee), they will take the risk of paying if forfeiture occurs. This bond says Trump will pay (Good luck squeezing blood out of that onion!) - just don’t expect us to.
Hell, I could write that kind of “bond”.
(That may be why Hankey charged Trump an unusually small amount. How small? Hankey won’t say, but he said it was because it was “low risk”. Which it was, since the bond exempts Hankey from paying if Trump loses!)
Also, the article linked above points out, the bond company isn’t licensed in New York or California, and it’s questionable that the company would be able to pay anyway.
So. A bond the unlicensed issuer might not be able to cover, if he had to pay, which the bond says he doesn’t.
These problems have not gone… unnoticed. Next post.
First and foremost, the bond posted specifies, in print, something that kind of defeats the whole concept of a bond.
Buried in the typical legalese of the contract is the phrase: “Knight Specialty Insurance Company… does hereby… undertake that if the judgment… is dismissed… Donald J. Trump… shall pay… the sum directed.”
In other words: If Trump loses the case, Trump will pay. But that’s no different than Trump’s obligation before the bond was issued.
Bonds are supposed to be a third party showing that (in exchange for a fee), they will take the risk of paying if forfeiture occurs. This bond says Trump will pay (Good luck squeezing blood out of that onion!) - just don’t expect us to.
Hell, I could write that kind of “bond”.
(That may be why Hankey charged Trump an unusually small amount. How small? Hankey won’t say, but he said it was because it was “low risk”. Which it was, since the bond exempts Hankey from paying if Trump loses!)
Also, the article linked above points out, the bond company isn’t licensed in New York or California, and it’s questionable that the company would be able to pay anyway.
So. A bond the unlicensed issuer might not be able to cover, if he had to pay, which the bond says he doesn’t.
These problems have not gone… unnoticed. Next post.