Appeal Bond

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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.
References in periodicals archive ?
The court also ruled that an appeal was part and parcel of the general duty to defend and was not attributable to the provision regarding payment for the cost of appeal bonds.
But beyond court rulings on the subject, it is just common sense and sound risk management practice to appeal adverse judgments, so paying for appeal bonds should be considered an integral (even if not mentioned) part of the supplementary payments section of insurance policies.
Currently, forty-one states cap appeal bonds, either legislatively or by
156) States have passed statutes capping appeal bonds with several
whether Rule 62(d) or a given state statute capping appeal bonds will
state statutes that cap appeal bonds, the risk of vertical forum
An appeal bond (sometimes called a supersedeas bond) is the most common form of security.
Defendants can provide several alternative forms of security in lieu of an appeal bond.
An appeal bond is not the only form of security that will operate to stay enforcement of a judgment.
Although 18 states have enacted limits on the size of appeal bonds in the last three years, Louisiana, Nevada, Oklahoma and West Virginia have specifically limited the size of appeal bonds that would affect companies that signed the master tobacco settlement.
SB 280 contained a number of civil justice reform measures, including providing that state agencies hiring lawyers seek open and competitive bids, tying prejudgment and post-judgment interest rates to the auction price for 52-week Treasury bills, placing a $50 million limit on appeal bonds, requiring mediation for all tort actions unless the court ruled otherwise, and capping non-economic damages in medical malpractice cases at $350,000.
TCPI has previously obtained appeal bonds staying enforcement of the judgments against the Company and Mr.