Appeal Bond
At first, you think this has something to do with bananas, but then you recheck the spelling (not "a peel" bond), and now you think it has something to do with a murder conviction being revisited with new DNA evidence.
Well, it's sorta like that last one--a company loses a lawsuit against them for selling pint plastic bags of glass shards called Bag O' Glass to kindergarteners. Apparently, the courts thought this was a really bad idea. The company lost, and they owe the now-scarred children a million dollars. The firm plans to appeal. In order to avoid shenanigans, however, the court requires the company provide a bond that ensures payment of the judgement if the company loses the appeal.
Like how a regular bond in a criminal case discourages defendants from running from the cops, the appeal bond lowers the chance that the defendant in a civil case will use the appeals process to delay payment. Basically, "you can appeal all you want, but let's see the cash first."
Related or Semi-related Video
Finance: What is Counterparty Risk?9 Views
Finance a la shmoop what is counterparty risk?
alright here's you the party and here's the guy you're contracting with to sell [Woman and man stood side by side]
18 tons of bricks or buy a line of credit for your flower shop or sell a
futures contract with the right to buy oil at 80 bucks a barrel for the next [Person signs contract]
two years so you're the party and he's the counterparty and the yin and yang of
the party and here's the risk yeah well the counterparty risk is just
that the person you contracted with doesn't live up to their end of the
bargain you pay them good money you sign a good contract all lawyered up and [Stack of money and contract appears]
stuff and then they split like totally split disappeared sea men choose the
bottom of the ocean maybe they went to Bora Bora
maybe they got facial surgery in the Philippines you know they do that now [George Clooney in a surgical bed]
well when that happens you will probably feel like crying and you should its your
counterparty you can cry if you want to come on that was a good reference people [Man singing]
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