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A lawsuit settlement is good and is the outcome in about 95% of all personal injury lawsuits. There are excellent reasons for this high percentage of settlements. A settlement ends the lawsuit when both an agreement and payments are made. This stops legal actions that sometimes take years to complete, as the wheels of justice turn slowly. It could take years to get a personal injury lawsuit into a court trial. This can be wearying to everyone involved.
A person may opt for accepting a settlement offer because they are tired of the long process. A defendant may want to work out a settlement agreement because they feel if the case goes to a court and jury trial, they will be slapped with a very large award to pay to the plaintiff.
Another reason to get a settlement agreement in place is that a defendant is more likely to be able to pay that amount. If the case goes to court and a jury awards a significant sum, the defendant may be unable to pay that amount, and the plaintiff could end up with nothing. A lawsuit settlement is good for most plaintiffs and defendants. It's the old "bird in hand versus bird in the bush" reasoning. The goal in settlement negotiations is to create a win-win situation.
|Jennifer Mathes, Ph.D.|