What is a Settlement? What is a Verdict?
What Is a Settlement?
In the legal world, a settlement in personal injury case or a medical malpractice claim means that you, as the petitioner, are agreeing to drop the case against the guilty party in exchange for some type of agreement financially. Many defendants try to offer a settlement to a petitioner because taking a claim to court will put their wrongdoing in the public eye. With an accepted settlement, they avoid this situation.
The Difference between a Verdict and a Settlement
Both a verdict and a financial settlement are part of the legal system, but they are two completely different things. A settlement is exactly what we have mentioned above, whereas a verdict means that the claim was taken to court and the judge ruled whether the defendant was actually the wrongdoer, and if so, how much they have to pay the petitioner.
Between a verdict and a settlement, it is obvious that in most cases, a settlement is the most preferred of the two, especially if you are looking for some type of financial compensation for your pain and struggles.
What to Consider Before You Accept a Settlement
With your Fall River personal injury lawyer, you will be advised on the following crucial settlement questions:
- By agreeing on a settlement, will there be any type of ill effect on the income taxes that you pay?
- From the money that you receive from a settlement, how much of it will go straight toward attorney fees?
- Exactly how much does the defendant’s insurance cover?
- What is the defendant’s income source? And how much is it?
- Will you have to concede anything if you accept a claim settlement?
- Is the settlement amount you are receiving the most you can receive given the circumstances? (If it is not, then it should be deemed unacceptable.)
- What are the negotiation methods of the defendant’s attorney?
- And lastly – do you really wish to have a settlement? If you do, then why?
—information pulled from various online sources