Posts Tagged ‘ Judgment ’

A Settlement, a Verdict and a Judgment walk into a bar…

March 4th, 2010. By Kristine B

(Let me preface this by saying this isn’t a legal joke—more of a little vignette. My apologies to those of you “legal purists” out there…this is Pleading Ignorance and it’s for the rest of us lay folk.) Back to the story…

After a few drinks, a hot chick (I’m a woman, so I can write that) walks up; seems she’s looking for romance—and a husband.

She approaches the Verdict first. He’s game, but he has to ask his mother first—he’s a momma’s boy at heart and momma’s the judge. She doesn’t have time for that, so she heads over to the Judgment. They chat a bit, but then she realizes he may want to bail early on—he wants to keep his options open—and she’s wanting more of a final commitment—no chance of an appeal, so to speak. So she starts chatting up the Settlement. She likes that he sounds like he’s “settled” and he’s upfront about things—no baggage—he hasn’t been through the rigmarole. Yup, the Settlement’s her guy. She buys him a drink, and off they go into the sunset.

Love story though it may be, I use the above bit of fiction to describe three legal terms that are often used interchangeably—and incorrectly so: Settlement, Verdict and Judgment.

So let’s do some ‘splaining.

What is a Settlement?

You hear a lot about settlements because, hands down, they win the popularity contest when it comes to lawsuit outcomes. Why? A few reasons. First, they happen before anyone actually goes to trial—so you avoid the possibility of a case being dragged on and on as it goes through the courts. Secondly, as a settlement arises from negotiation, both parties must agree to the terms of the settlement—and that includes the dollar amount of the settlement and terms of the settlement such as whether or not the amount of the settlement is confidential. And third, a settlement is final—there’s no Read the rest of this entry »

Tags: Judgment, Pleading Ignorance, Settlement, Verdict
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