Settlement Agreement

Settlement Agreement:

A settlement agreement is a legally binding contract that resolves a dispute between two or more parties without further litigation. It typically involves one party agreeing to pay a sum of money or take certain actions in exchange for the other party dismissing their claims or releasing them from liability. The agreement should clearly state the terms of the settlement, including any payments, timelines, confidentiality requirements, and consequences for breach. It should be signed by all parties and their attorneys, and may require court approval in some cases. Settlement agreements are often used to avoid the time, expense, and uncertainty of a trial, and to provide a final and enforceable resolution to the dispute.