Tennessee Valley Authority v. Atlas MacHine & Iron Works, Inc. And Williams Enterprises, Inc., in Re Fireman's Fund Insurance Company

MURNAGHAN, Circuit Judge:

The Tennessee Valley Authority’s appeal presents the question whether an appellant’s obligation under a supersedeas bond, given to stay execution of a judgment pending appeal, is either (1) excused when the opposing party cross-appeals or (2) discharged when the court of appeals affirms as to liability but remands for a new trial as to damages.

I

In a prior opinion, we dealt with a dispute over two construction contracts awarded in 1978 by the Tennessee Valley Authority (TVA) to Atlas Machine & Iron Works, Inc. Tennessee Valley Authority v. Atlas Machine & Iron Works,…