Definition - What does Appeal Bond mean?
Appeal bond is money given to a court by the party that contests the decision of a lower court--a decision against the party's favor. It is a requirement set by the appellate court before analyzing and deciding on a case. The amount is usually large to test the seriousness of the appealing party and to dissuade an appeal that has no legitimate basis.
Insuranceopedia explains Appeal Bond
An appeal bond is also called a supersedeas bond.
An appeal is made right after a court makes a decision. The defendant who loses the case makes an appeal through his or her lawyer. This appeal is processed in a higher court, specifically the appellate court which deals with appeals.
The appellate court then decides the amount. The amount to be posted, in civil courts where the point of contention involves money, is more than equal to the amount that is being contested in the case. This is because if the appellate court confirms the decision of the lower court, the defendant can definitely pay the plaintiff.
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