appeal bond

  • A bond given in a case at law in which a judgment has been rendered, and the party against whom it has been rendered desires to take the case to another court. The bond is required of unsuccessful litigants who appeal judgements to higher courts. The bond guarantees payment of the judgement up to the limits of the bond, plus interest and costs, should the higher court sustain the verdict of the lower court. Companies do not file a bond for more than policy limits.

    Internal Revenue Service 1

1Internal Revenue Service, Internal Revenue Manual 4.42.6 Glossary, http://­www.irs.gov/­irm/­part4/­irm_04-042-006.html (last accessed Dec. 22, 2009).