‘Undertaking.” What does that mean in the liability trial context? Perhaps most practitioners do not have to worry about the vagaries of the appellate process—but at times even the trial lawyer is required to know the ropes of what some would call an “appeal bond” but New York classifies as an “undertaking.”
This article considers a hypothetical lawsuit that a New York liability insurer has defended where the judgment does not exceed the policy limits but the insurer has a sound basis—though not yet a judicial declaration in its favor—for asserting that part of the judgment is excluded from coverage.
