What is a settlement agreement?

A settlement agreement is a legally binding agreement between two parties that solves a dispute, usually without having to go through a trial. This type of agreement is common in accident law cases in Arizona. In a settlement agreement, both parties reach an understanding regarding what has happened and what will happen next. Each side agrees to the terms of the agreement, which can include details like the amount of money that will be exchanged. In Arizona, settlement agreements also involve a process known as mediation, where the parties involved meet with a mediator who helps them work through their dispute. The mediator can help facilitate communication between the parties, explain the legal process, provide information about the issues in dispute, and help the parties come to a mutually agreeable solution. In addition to coming to a resolution about the dispute, a settlement agreement in Arizona can also provide for a release of liability between the parties. This means that after a settlement agreement is reached, neither party can later sue the other for any claims related to the dispute. Overall, a settlement agreement is an important tool for resolving a dispute in an accident law case in Arizona. It helps both parties come to a resolution, while also avoiding the costs and potential delays of a trial.

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