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final settlement definition
an agreement reached by the parties to a lawsuit, usually in writing and/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. With the glut of cases crowding court calendars
and overwhelming the system and delays in getting to trial (due to three factors
increased criminal case load, increased litigious nature of society and an insufficient
number of judges), judges encourage attempts to settle, including mandatory settlement
conferences with judges or experienced settlement attorneys present.
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