What is a settlement agreement?

A settlement agreement is a legally binding document that is used to resolve disputes between two parties, such as a person who has been injured in an accident and the person at fault for the accident. When a settlement agreement is reached, the parties agree to end the dispute and accept a specific amount of money in exchange for the party releasing their claims. This amount is often less than the amount the injured party would receive if they were to sue in court. The settlement agreement will also include any other conditions that both parties have agreed upon. In the state of Washington, settlement agreements are typically developed with the assistance of an attorney who specializes in accident law. Once all of the parties have signed off on the agreement, it is binding and can only be overturned in court by a judge.

Related FAQs

What is contributory negligence?
What is the difference between compensatory and monetary damages?
What are no-fault benefits?
What is a release of all claims?
What are the damages recoverable in a personal injury case?
What steps should I take if I'm injured in an accident?
What is an insurance adjuster?
What should I do if I have been injured on someone else’s property?
How much do personal injury lawyers charge?
When is a settlement considered taxable income?

What is a settlement agreement?

Related FAQs

Related Blog Posts