Summary
Currently, judges can require defendants-from large pharmaceutical companies to small auto repair shops-to post a bond that can equal the amount of the judgment before they appeal. "This requirement can severely burden small businesses and professional firms with limited assets, requiring them to change their business operations or go out of business altogether," says Marcus Rayner, executive director of the Alliance. "Companies choose to settle rather than go out and purchase a large bond.
A GROUP CREATED last year to push tort reform in New Jersey is championing state legislation that would make it less costly for companies to appeal large monetary judgments.The New Jersey Lawsuit Reform Alliance-financed by business advocates and large companies-is pushing identical bills (A-3091 and S-2116) that would put a cap on the size of bonds that judges could force a company to buy before the company can appeal a judgment.See the full content of this document
Extract
Pushing Tort Reform
A GROUP CREATED last year to push tort reform in New Jersey is championing state legislation that would make it less costl...
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