Final answer:
A bondsman will be guilty of breach of contract for failing to return collateral that exceeds $1,500 in the context of bail bonds.
Step-by-step explanation:
In the context of bail bonds, a bondsman will be guilty of breach of contract for failing to return collateral that exceeds $1,500. Collateral refers to the assets or property given by the defendant or their cosigner as security for the bond. If the collateral exceeds $1,500, the bondsman has a legal obligation to return it to the defendant or their cosigner, unless otherwise stated in the agreement.
Failure to return collateral can result in a civil lawsuit against the bondsman for breach of contract. The defendant or their cosigner may be entitled to damages, which can include the value of the collateral plus any additional costs or losses incurred.
It is important for the defendant and their cosigner to carefully read and understand the terms and conditions of the bail bond agreement, especially regarding the return of collateral, to avoid any potential legal issues.