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Appeal Bond |
Also found in: Legal | 0.01 sec. |
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Appeal Bond In an appeal, a bond that guarantees payment of the original judgment. For example, if Joe sues Bob for $1 million and Joe wins, Bob may appeal to a higher court to reverse the ruling. However, the higher court may require Bob to post an appeal bond of $1 million plus the cost of the appeal just in case he loses the appeal as well. This assures Joe will be paid (assuming he also wins the appeal) and discourages frivolous appeals. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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