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A settlement agreement is a way to end a civil lawsuit when the involved parties decide that it is in the best interest for both of them to end the dispute without further litigation. This agreement is a legal document which is a binding contract between the two parties. Usually, the defendant agrees to pay a certain amount of money either in lump sum or in installments to the plaintiff for the purpose of ending the lawsuit. The terms and conditions are laid down in the settlement. This article provides answers to some of the most commonly asked questions about issues related to this. Is a signed handwritten settlement agreement considered a valid contract?
A valid settlement agreement which has been duly signed does not become invalid for the sole reason that it was handwritten. Hence, it is a valid contract. In case a settlement agreement is made in a civil court case and the plaintiff and defendants are stipulated as parties to this settlement, is it necessary for all of them to sign it to be binding?
Yes, all the parties will have to sign it to make it binding. You can even sue those who decline to sign it. I filed a suit against a company and now wish to sign a settlement agreement with them. The first part of the agreement reads: This confidential Settlement and Release agreement executed on the date set forth below is made and entered between "My Name", his representatives, heirs and assigns, in favor of "Company Name" Is the phrase ‘in favor’ standard usage and what does it mean?
It is a standard language. It appears, from what you have stated, that the company is paying you and in return you are being asked to sign a settlement and release agreement. If the remaining part of the agreement is ok, this phrase is not something you should worry about. A settlement agreement from one shareholder’s lawyer to another’s lawyer first mentions that they accept the client’s offer, then goes on to list properties that are being divided, and at last mentions the amount of money involved in the transaction. Will this be upheld in a court of law?
In case the details of the settlement are mentioned in the agreement, it can be upheld in court unless one party was conned into being a part of the settlement agreement in the first place. I cancelled a pending trial by entering into a settlement agreement. Part of the agreement stated that the contents of it would not be disclosed to my customers. This part of the agreement has been breached. Can I reopen the case on this ground and withhold any payment that was in the agreement?
Firstly, you have to remember that countering one wrong with another is not the correct approach. Two breaches will not solve the issue. You may go back to court and ask for remedy mentioning that the agreement has been violated. But if you breach the agreement yourself, you might be in a tight spot and face legal consequences. If the case was dismissed, it is not possible to simply reopen it. Taking into consideration how the case was dismissed, you might need to re-file the same. In case the matter is not yet dismissed, it is possible for you to put the issue back on the court’s calendar. If you have further questions or you are just curious to know more about such issues, you may ask a business lawyer about the details of such agreements.
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