The play 'The Merchant Of Venice' by William Shakespeare deals with the frightening concept of debt and the idea of a promise to pay it back. It centres around a seemingly basic contract between the creditor Shylock, a Jewish loan agent or moneylender, and a merchant called Antonio. This contract is called a "Bond", where the conditions are that in return for the grant of a loan of 3,000 ducats, the merchant would repay the moneylender in three months at a certain date and place.He,Shylock, even offers the loan with no interest.
Shylock however, does want his risk secured against a forfeit or inability to pay so Antonio agrees to promise a pound of his flesh because he's sure he'll make more than 3,000 ducats before the date comes for him to pay up. He signs and seals with the moneylender Shylock before a legal official official or Notary.
'Go with me to a notary, seal me there your single bond; and, in a merry sport, if you repay me not on such a day, in such a place, such sum or sums as are expressed in the condition, let the forfeit be nominated for an equal pound of your fair flesh, to be cut off and taken in what part of your body pleaseth me.'
So the conditions also include a) an amount/demand/bond b) a date and c) a place
Antonio goes bankrupt, and can't pay Shylock, but he still demands that he shall "Have his bond", one pound of flesh. The case is then taken to the Duke in the Court of Justice.