Recent Answers to Settlement Agreement Law Questions

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.

Answered Jun 21, 2024

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).

I recently entered into a settlement agreement with another party, and I am trying to determine whether non-monetary terms can be included in the agreement. I am concerned about potential liabilities and obligations that may arise from the agreement if non-monetary terms are included. I would like to know what legal considerations I should take into account when crafting the agreement.

Andre T.

Answered Jan 30, 2024

Settlement agreements can contain any provisions that the parties are willing to agree to provided that those provisions are not illegal or against public policy. There are also safe guards that can be included in the language of the agreement so that legally enforceable terms are undisturbed even if part of the agreement may be found to be invalid.

I recently entered into a settlement agreement with the other party in a dispute, but now I believe that the terms of the agreement are no longer fair and equitable. As such, I am looking to renegotiate the agreement. I have attempted to discuss this with the other party, but they have not been receptive to the idea. I am now seeking legal advice to determine if there is any way to renegotiate the agreement and what the best course of action would be.

Joseph M.

Answered Jan 26, 2024

If you enter into a binding contract you have to honour the terms unless there was fraud, mistake or misrepresentation as a basis to set aside or renegotiate.

I recently entered into a settlement agreement with a business partner to end a dispute. However, I have since discovered that they did not fully disclose the terms of the agreement and I believe I have been deceived. I am now unsure if I should revoke the settlement agreement and pursue other legal options. Can I revoke a settlement agreement?

Darryl S.

Answered Jan 23, 2024

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.

I recently reached a settlement agreement with a former employer in a dispute over unpaid wages. The settlement agreement outlines that I am to receive a certain amount of money as damages, however, I am unclear on how these damages were calculated and if there are any additional costs or fees associated with the settlement agreement. I am hoping to find out more information on how the damages were determined so that I can make sure I am receiving a fair settlement.

Linda W.

Answered Jan 19, 2024

Your questions are certainly valid and you are entitled to answers. And you should receive the information before you sign a settlement agreement. Some of the terms of which should be included in the settlement agreement, such as if there are any other fees or costs associated with the settlement.

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.

Patrick N.

Answered Jan 16, 2024

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?