Bond is a formal written agreement made amongst the parties to perform a certain act or stop from doing an act. Usually in legal language bond is made to appear before the court or stopping someone from doing an act of crime e.g. immoral trafficking or murder etc. The agreement is made in order to assure the other person that his act or abstain will be paid or some benefits will be acquired from the act or omission. There are many other types of bond in law, like bail bond, appeal bond, appearance bond etc. are some terms which are commonly used in law
An unconscionable contract is a contract which is drafted in such a manner that it favors one party and is unfair and harsh on the other party.
Arbitration refers to a third party to resolve the dispute or difference between not less than two parties for determination, after hearing each side, during a judicial manner, by an individual.