What is the difference between a settlement and a judgment in a construction accident case?

In Arkansas, the difference between a settlement and a judgment in a construction accident case is that a settlement is an agreement reached by the parties to the case in which the defendant pays the injured party a certain amount of money to resolve the dispute. A settlement usually involves an admission of guilt from the defendant, and the amount of money is agreed upon between the defendant and the injured party out of court. A judgment, on the other hand, is a ruling by a court after a trial. After a trial, the judge or jury will decide whether the defendant is liable for the injuries suffered by the plaintiff and how much the defendant must pay the injured party in damages. A judgment is legally binding and is enforceable through the court system. It is important to note that judgments are public records, and they can be used as evidence in future cases. While settlements are often seen as a faster solution to a legal dispute, they can also be more expensive for the defendant due to the money paid to the injured party. Judgments, on the other hand, are legally binding and can be used as precedent in similar cases. Both settlements and judgments can be beneficial in construction accident cases, but it is important to understand the differences between them.

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What is the difference between a settlement and a judgment in a construction accident case?

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