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LSDefine

Simple English definitions for legal terms

final settlement

Read a random definition: covenant to protect against drainage

A quick definition of final settlement:

Final settlement is an agreement that ends a disagreement or debt. It's like making a deal to stop fighting and move on. The agreement can include one person paying money or stopping certain actions in exchange for the other person giving up their right to keep arguing or suing. This happens a lot in court cases because it saves time and money. Final settlement can also mean finishing up a will or dividing up someone's things after they die.

A more thorough explanation:

Definition: Final settlement is an agreement between parties to resolve a dispute and prevent future litigation. It can also refer to the satisfaction and closing of a debt or business account after a final payment, or the completion of the execution of a will or distribution of an estate.

For example, in a civil case, the parties may negotiate a final settlement where one party agrees to pay the other a certain amount of money or stop conducting certain actions in exchange for the other party waiving their right to litigate the issue in the future. This reduces litigation costs and clears cases from court dockets.

In another example, when a person owes money to a creditor, they may make a final payment to settle the debt and close the account. This is known as a final settlement.

Similarly, in an estate, the final settlement refers to the completion of the execution of a will or distribution of an estate. This means that all assets have been distributed to the beneficiaries and all debts and taxes have been paid.

final judgment | financial guardian

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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