Which type of surety bond is designated for guardians or executors appointed by a court?

The correct choice is the fiduciary bond, which is specifically designed for individuals who have been appointed by a court to act on behalf of another party, such as guardians caring for minors or executors managing estates. This type of bond ensures that the fiduciary will manage the funds or property in accordance with the law and the terms of their appointment, offering protection to the beneficiaries or the estate.

Fiduciary bonds are essential in legal and financial contexts, as they hold the fiduciary accountable for their actions or inactions while performing their duties. If they fail to uphold their responsibilities, the bond provides a financial guarantee that can compensate the affected parties.

In contrast, other types of bonds serve different purposes. For example, contract bonds ensure the fulfillment of contract obligations, fidelity bonds protect against employee dishonesty, and public officials bonds safeguard against the misconduct of public officials in their official duties. Each bond type addresses distinct risks and responsibilities, which is why the fiduciary bond is the appropriate answer for this scenario.