Settlement
An agreement to resolve a legal dispute without going to trial, where the defendant pays the plaintiff an agreed amount.
Detailed Explanation
Approximately 95% of civil cases settle before trial. Settlements save both parties the cost, time, and uncertainty of trial. Settlement amounts consider the strength of evidence, potential verdict range, litigation costs, and both parties' willingness to take risks. Settlement negotiations can occur at any stage, from pre-suit through appeal.
Related Terms
Contingency Fee
A fee arrangement where the lawyer only gets paid if you win your case, typically taking 33-40% of the settlement or verdict.
Verdict
The formal decision made by a jury or judge at the conclusion of a trial determining the outcome of a case.
Mediation
A voluntary dispute resolution process where a neutral third party helps both sides negotiate a settlement.