Definition of Appeal bond:
Guaranty of payment of damages (plus estimated cost of appeal) assessed by an appellate court. Posted by a losing party (who is appealing a lower courts judgment), it is cashed if the appeal is unsuccessful. An appeal bond serves to discourage frivolous appeals that waste the courts time (see abuse of process).
An appeal bond is also referred to as a supersedeas bond.
An appeal bond is an amount of money placed in holding while an appeal is being decided. An appeal bond is supplied by the appellant who is appealing the lower court's judgment and is usually in the amount of the original judgment (though it could be more).
How to use Appeal bond in a sentence?
- The appeal bond is also used to limit frivolous attempts at an appeal, as the appellant still has to pay the judgment upfront in the form of a bond, and may end up paying more ultimately, due to interest, fees, lawyers, etc.
- The appeal bond is required as a sign of good faith that the judgment will be paid if the appellant loses, and to protect the winning party should the losing party go bankrupt during the appeals process.
- An appeal bond, or supersedeas bond, is a payment that a court requires from an appellant who is awaiting the appeal of a judgment.
- The amount of money required for the bond is often the actual judgment plus interest—and is held while the appeal is being debated.
Meaning of Appeal bond & Appeal bond Definition