Partnership
Settlement Agreement
Massachusetts
How binding is a settlement agreement?
I recently entered into a settlement agreement with a former business partner. We both agreed to the terms of the settlement, however, I am now concerned that the other party may not follow through with their obligations. I want to know how binding the settlement agreement is and if there are any legal consequences if the other party does not fulfill their obligations.
Answers from 1 Lawyer
Answer
Partnership
Massachusetts
Patrick N.
ContractsCounsel verified
First of all, it matters who drafted the agreement, who are the parties to the agreement, and what precisely is being "settled"? Typically an "agreement for judgment" is the most binding settlement agreement, since the agreement becomes an order of the court once it is approved by the presiding judge. However, you have to already be in court (i.e., sue or be sued) to get the benefit of that. Was there a lawsuit filed or a lawsuit threatened?
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This is a situation where fraud by the counterparty may possibly allow for revocation, but the agreement must be reviewed by legal counsel and the facts must establish a strong case.
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In any and all agreements, not just settlement, make sure all ambigious terms are defined. Do not sign something you truly do not understand. Please consult a lawyer to review the settlement agreement for further analysis and legal implications.
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Are there caps on damages in settlement agreements?
I am a small business owner who is in the process of settling a dispute with a former employee. The employee is claiming a certain amount of damages, which I believe is excessive. I am interested in finding out if there are any caps on damages that can be included in a settlement agreement, as I would like to come to an agreement that is fair and reasonable for both parties.
Merry K.
In Washington, there are no punitive damages. Employment resolutions are usually based on some percentage or multiple of a person's salary. It is your job to reach a settlement that is fair and reasonable for you, not for a litigant against you (that's their job, not yours). If you are having difficulty resolving this dispute, you may want to consider mediation. Before you pay the employee, be sure to have them sign a full and complete release of all current and future liability and claims against you individually, your business, your heirs; etc. Also, if you have business insurance, it's possible you are entitled to a free attorney to represent you in this dispute.
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I was injured when a Chinese safety product and won my argument.
I bought a safety sling off Amazon (I am Paraplegic) and the first time I used the lifting harness it failed and I fell hitting my foot on the floor and injuring it. After a lengthy investigation I was awarded an $18,000 Settlement Agreement and McLarens did all negotiations for the Chinese Supplier (Vendor of Amazons) and the Wire Transfer was set up for payment. It has been over 100 days since the agreement was made and we still have not been paid. The agent of McLarens on behalf of the Chinese Company (NEFFT) is my only contact and negotiated this settlement with will not return my Email and 5 times she has emailed she says she will contact her Client but I do not hear back from her and have to ask all over again. She has stalled for over 100 days now. What is the time limit for non payment and if so can they be Sued for Breach and bad faith practices and would that qualify for 3 times the amount of Settlement for Breach? Also my injured Foot is getting worse on top of it! Please help if possible?
Merry K.
I'm so sorry to hear about this. However, you posted on ContractsCounsel in the "question and answer" part of ContractsCounsel - I think you should obtain legal help, and for this, you need to post your request in the "project" area and expect to pay an attorney for help and advice. I'm sorry, I'm unable to answer all your questions - I just dropped in to provide these comments to you. (Also, please do not ask for me for a project, and I am not available for this type of work right now).
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Hello my name is Nezar, immigrant I left the last year 2020, the college always sends me letters in the mailbox and I always think that when I receive the mail every time they are wrong from the main office but I did not think that I will pay the fees, the delay because I dropped the courses late last year, the second semester and then I talked to them and they told me that I took the courses late after about a month and that I have to pay the late fee, and then I understood that the privacy policy is like this?
Sarah D.
Dear Nezar, Most universities and technical colleges have a date by which you must drop a class without incurring the charges for the class--it's called a drop window. Usually that is a 2-4 week period. If you took classes and dropped them late in the semester, it was probably after the drop window for the school. I suggest reviewing the school's policy on dropping classes and trying to speak to someone in authority about negotiating a lower payment or explaining that you did not understand the drop window policy. If you need assistance in negotiating with the school, I am happy to write a letter or advocate on your behalf a settlement. Thanks, Attorney Sarah DeBruin, One Law Group SC, Green Bay, WI, sdebruin@onelawgroupsc.com and phone 920-330-9208.
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