Most people avoid going to court. That’s why legal suits for accidents, injuries, and even medical malpractice typically don’t make it to trial. About 95 percent of pending lawsuits end in a pre-trial settlement. The settlement is usually resolved early in the litigation process when the plaintiff agrees to give up the right to pursue any further legal action in connection with the accident or injury, in exchange for payment of an agreed-to sum of money from the defendant or an insurance company.
Since the majority of these legal claims don’t reach civil trial, as a litigation attorney you’re probably spending a lot of time drafting settlement agreements early in the litigation process. When drafting a settlement agreement, it’s vital to ensure it meets the requirements for a valid contract. Your clients rely on you to guide them through the process and provide them with everything necessary to finalize their settlement. Are you prepared?
This Settlement Agreement and Release template serves as a useful starting point when drafting an agreement between two or more parties settling a pending lawsuit and releasing future claims. To make sure the agreement achieves the parties’ intended purpose, counsel should tailor it to the particular circumstances of the matter at issue.
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With your free trial of Practical Law Connect, you can download the Settlement Agreement and Release sample that includes integrated notes with important explanations and drafting tips.