An agreement creating an obligation contained in a deed (q.v.) or land title. A covenant may serve the same purpose as a bond(1) A deed (q.v.) in which a person undertakes to do or refrain from doing certain things, e.g. good behaviour bond. (2) Money paid to a landlord by a tenant at the start of a tenancy as security in case of future damage to premises or non-payment of rent. More (q.v.).