What is the purpose of a supersedeas bond?

The purpose of a supersedeas bond is to ensure payment of damages if an appeal of a court decision is unsuccessful. This type of bond is typically required when a party wishes to appeal a judgment and wants to prevent the enforcement of that judgment while the appeal is pending. By posting a supersedeas bond, the appellant demonstrates their financial ability to satisfy any potential financial judgment awarded to the other party should the appeal not go in their favor.

In this context, if the appealing party loses the case, the bond provides security for the winning party to receive any damages awarded by the court without delay. This mechanism functions to protect the rights of the prevailing party while also allowing the appealing party to pursue the appeal without immediately having to pay the judgment amount.

The other options don't accurately reflect the function of a supersedeas bond. For instance, while legal fees may be a consideration in litigation, a supersedeas bond is specifically about securing damages related to the judgment itself. Additionally, while a petitioner may set aside a judgment, this is not the primary role of a supersedeas bond. Lastly, securing witness testimony pertains to different legal procedures and is not related to the purpose of a supersedeas bond.