Definition from Nolo’s Plain-English Law Dictionary
An agreement reached by the parties to a lawsuit, usually in writing or read into the record in court, settling all issues. Usually there are elements of compromise, waiver of any right to reopen or appeal the matter even if there is information found later which would change matters (such as recurrence of a problem with an injury), mutual release of any further claim by each party, a statement that neither side is admitting fault, and some action or payment by one or both sides. In short, the case is over, provided the parties do what they are supposed to do according to the final settlement's terms.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:16 pm