the resolution of a lawsuit (or of a legal dispute prior to filing a complaint or
petition) without going forward to a final court judgment. Most settlements are
achieved by negotiation in which the attorneys (and sometimes an insurance adjuster
with authority to pay a settlement amount on behalf of the company's insured defendant)
and the parties agree to terms of settlement. Many states require a settlement conference
a few weeks before trial in an effort to achieve settlement with a judge or assigned
attorneys to facilitate the process. A settlement is sometimes reached based upon
a final offer just prior to trial (proverbially "on the courthouse steps") or even
after trial has begun. A settlement reached just before trial or after a trial or
hearing has begun is often "read into the record" and approved by the court so that
it can be enforced as a judgment if the terms of the settlement are not complied
with. Most lawsuits result in settlement.
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