One of the risks all businesses face is facing a lawsuit that could harm their ability to operate. Bars and nightclubs and New York deal with lawsuits not only as a risk but essentially an inevitably if they operate long enough. These lawsuits can come with a hefty price.
A recourse a business may have to use should they find themselves a defendant in a case is an appeal bond. In order to stay a financial judgement, and head towards an appeal, a defendant must prove to the court that the judgement is not being sidestepped with ill intent. An appeal bond is a surety bond which meets that burden of proof.
Dealing With Frustrated Customers
Customers who feel they have been wronged, cheated, or harmed by a company often seek legal recourse. Litigation can be costly for a business, especially if the matter is taken to a judge and jury.
A nightclub owner, for example, may have to deal with a patron who was injured on their property or who was served alcohol when they were clearly past the level of acceptable intoxication. Even a simple slip and fall case can close a business’s door.
Being protected against these lawsuits and large payouts are a must for all New York companies. Which is why being prepared to appeal if a ruling goes in the plaintiff’s favor is important. The option of staying a judgement and appealing to a higher court often gives the business an opportunity to clear up the issue without having a money judgement placed against them.
Using An Appeal Bond
An appeal bond is a type of surety bond required by the state of New York when a defendant wishes to stay a judgment, financial or otherwise while they make their case to a higher court. Because justice isn’t to be delayed, the court will not accept the defendant to ignore the lower court’s ruling simply because they want to appeal. Instead, they expect the defendant to make restitution to the plaintiff without delay.
In order to show the court that the defendant is not attempting to ignore the ruling or the plaintiff’s rights, they can post an appeal bond that covers the amount granted in the judgement. With this bond in place, the court is content with the defendant’s actions and the plaintiff’s rights.
Setting Up A Supersedeas Bond
Often times an appeal bond may be referred to as a supersedeas bond. No matter which name is used they are essentially the same bond. The Jurisco office can assist you with establishing a supersedeas or appeal bond quickly.
By keeping the process simple and speedy, Jurisco can easily meet your surety bond needs so the appeal process can begin as needed.
When dealing with a case that may result in a money judgement it is considered wise to plan for an appeal so there is no delay should the need present itself. This, of course, covers knowing which court the appeal would be sent to, which documents to file, and having a surety bond - an appeal bond - in place so the process can be as smooth as possible.