An appeal bond, like other types of surety bonds, is part of the pre-trial planning in Mississippi. Attorneys know that planning for an appeal bond doesn’t happen the day of the verdict, but weeks, if not months, beforehand. When presenting a case, the plaintiff and defendant can only do so much. The final judgment rests with the judge and the jury. Should this result in a judgment either party finds wrong they can appeal the decision.
The appellant has the legal recourse to appeal the decision, but that does not remove their responsibility to the judgment. One reason attorneys in Mississippi use supersedeas bonds so often is to stay the execution of the judgment during the appeal process. Without using surety bonds the defendant must immediately settle the judgment or they could find themselves in contempt of court.
Mississippi Requirements for Supersedeas Bonds
Every state has requirements for court bonds; when they can be used, coverage amounts, legal wording et al. There may be differences within the state as well. It is never safe to assume that the bonding requirements in Tupelo, MS will be the same for Jackson, MS. It’s imperative that all I’s are dotted and every t crossed per local and state statute from Columbus to Biloxi, MS.
Here is an excerpt from the Mississippi appeal bond statute:
“SEC. 77-1-47. Appeal bonds; supersedeas bonds.
Appeals from any final finding, order or judgment of the commission shall be taken and perfected by the filing of a bond in the sum of Five Hundred Dollars ($500.00) with two (2) sureties, or with a surety company qualified to do business in Mississippi as the surety, conditioned to pay the cost of such appeal. Said bond shall be approved by the chairman or secretary of the commission, or by the judge of the court to which such appeal is taken in case the chairman or secretary of the commission refuses to approve a proper bond tendered to them within the time limited for taking appeals. The commission may grant a supersedeas bond on any appeal, in such penalty and with such surety thereon as it may deem sufficient, and may, during the pendency of any appeal, at any time, require the increase of any such supersedeas bond or additional securities thereon. “
Cost for Appeal Bonds
The cost for appeal bonds has been an issue for several states. As money judgments increase to the hundreds of millions of dollars, many defendants (both companies and individuals) are finding it financially difficult to afford the appeal process. This certainly brings up legitimate concerns of whether or not justice is truly being done.
The appeal bond amount may simply be a small percentage of the judgment or it could be required to cover the full cost of the judgment plus any interest and court cost. Understanding state requirements will help keep this cost down and limit the defendant’s expenses.
Contacting a Bond Expert
To discuss appeal bonds, and their associated cost, contact Jurisco today by email or at 1-800-274-2663. By working with a bond expert the defendant can rest easy knowing that their appeal bond is being handled appropriately and as quickly as possible.