What is a good faith settlement in civil law?

A good faith settlement in civil law is a voluntary agreement which is reached between two or more parties to resolve a dispute without having to resort to litigation. In civil law, a good faith settlement is an agreement which can be enforced by a court if either or both parties fail to fulfill their end of the agreement. In Hawaii, a good faith settlement is outlined in the Hawaii Revised Statutes. According to the statute, a good faith settlement is any agreement made by parties to a dispute which is intended to put an end to the dispute without the necessity of litigation. The parties to the dispute must enter into the settlement voluntarily and with full knowledge of the terms of the settlement. The settlement must also be signed by both parties. When a good faith settlement is reached, it is binding upon the parties who have entered into it and all claims and counterclaims which have been made in the dispute are extinguished. This means that the parties are no longer able to sue each other for the matters in the dispute, as they have exchanged their claims for the settlement. A good faith settlement is an efficient and cost-effective way of resolving disputes in civil law in Hawaii, as it allows parties to a dispute to reach an agreement without having to go through the lengthy and expensive process of litigation.

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What is a good faith settlement in civil law?

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