A Tennessee supersedeas bond is contemplated under Title 27, Chapter 1, of the Tennessee Code. As a general rule a defendant that suffers an adverse verdict has the right to appeal however that right does not guarantees a stay of execution on that judgment during the pendency of the appeal. A judicial bond is a type of financial assurance filed with the court that guarantees that should the appellant NOT prevail that he or she will comply with the original judgment and with any other orders issued by the court pertaining to the same.
Pursuant to §27-1-124, generally, "If judgment is entered against a party under any legal theory, the amount of the Tennessee appeal bond necessary to stay execution during the course of all appeals or discretionary reviews by any appellate court shall not exceed the lesser of twenty-five million dollars ($25,000,000) or one hundred twenty-five percent (125%) of the judgment amount. For the purpose of determining the bond penalty (amount) the court may not include punitive or exemplary damages in its calculations HOWEVER IF if a party proves by a preponderance of the evidence that the appellant is dissipating assets outside the ordinary course of business to avoid payment of the judgment then the court may order a bond amount which may includes any punitive or exemplary damages." The bond penalty is further subject to section (d) of the same statute. "If the appellant establishes by clear and convincing evidence that the cost of the Tennessee supersedeas bond and the obligation resulting from the surety's payment of the bond will render the appellant insolvent, the court will review/reset the bond penalty plus any other terms and conditions it deems proper, that would allow the appeal of the judgment to proceed without causing appellant insolvency. This subsection (d) should be narrowly construed."
Review and preparation of terms of appeal bonds is best accomplished by a surety expert with knowledge of this type of obligation and the specific forms required by local, state and federal appeal codes. Tennessee surety bond leader, Surety One, Inc. specializes in judicial bonds in all local, state and federal courts. A Massachusetts supersedeas bond application submission is reviewed and responded to within one hour of receipt of the same. We are the MOST RESPONSIVE court bond underwriter in the nation. Call (800) 373-2804, email us at Underwriting@SuretyOne.com or click here if you would like to have a conversation about your appeal bond need.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.