In legal sense, a bond is a documented contract between two or more parties creating certain rights and obligations which are mutual. At times, it may necessarily contain only the obligation of one party to the other out of their already existing contractual relationship. For instance, an employment bond executed by the employee to serve the employer for a certain period failing which to pay a certain sum to the employer. Its validity of enforcement depends upon various factors such as the investment made by the employer to train the employee, the reasonableness of the length of the bond period etc.