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Simple English definitions for legal terms

full settlement

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A quick definition of full settlement:

Full settlement refers to a complete agreement between two parties to end a dispute or lawsuit. It can also refer to the conveyance of property to beneficiaries in a way that differs from what they would receive as heirs. In some cases, a court may be involved in the settlement process, but it can also be reached outside of court. A structured settlement is one where the defendant agrees to pay periodic sums to the plaintiff for a specified time. Viatical settlements are transactions where a terminally or chronically ill person sells the benefits of a life-insurance policy to a third party in return for a lump-sum cash payment. The establishment of a legal residence is also referred to as settlement.

A more thorough explanation:

Definition: Full settlement refers to the settlement and release of all pending claims between the parties. It is a legal agreement that ends a dispute or lawsuit.

For example, if two parties are involved in a legal dispute, they may reach a full settlement agreement to resolve the issue. This agreement would release both parties from any further legal action related to the dispute.

Full settlement can also refer to the complete execution of an estate by the executor. This means that all the assets and debts of the estate have been distributed and settled according to the wishes of the deceased.

Another example of full settlement is in structured settlements, which are common in personal injury and product liability cases. In a structured settlement, the defendant agrees to pay periodic sums to the plaintiff for a specified time. This type of settlement may have advantages over a lump-sum cash payment, as it can serve particular purposes that a cash settlement could not reach.

Overall, full settlement is a legal agreement that brings an end to a dispute or lawsuit, or the complete execution of an estate by the executor.

full-service lease | full value

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 0 👎

ChowieBean

10:38

Very happy with LR other than having to guess on a couple questions cuz of time

ChowieBean

10:42

i have a question about my personal statement. in my activism for the hospitality workers' union, i organized and spoke up in favor of stronger regulations on airbnb because the unregulated spread of airbnb throughout LA was inflating housing costs for workers and threatening their job security. do you think it's too divisive to mention regulating airbnb? idk

Nostradumbass

10:44

I wrote mine about how all activists should be consolidated into a large smelting pot and refined down to a viscous goo

Nostradumbass

10:45

Expecting a lot of rejections though

ChowieBean

11:07

I'm sure you'll get a full ride to a few schools :P

HowlEngineer

11:11

The impression I get is most schools try not to judge based on the political implications of what you write about. They probably care more that you saw a problem and tried to fix it. That seems like a great thing to write a PS about @chowie

HowlEngineer

11:18

Besides, if a school didn’t let you in for trying to fix a problem you saw in your community, that doesn’t say great things about your school’s culture (assuming the thing you did showed good common sense judgment ofc)

HowlEngineer

11:19

That school’s* culture

ChowieBean

11:23

Thanks Howl you're right :D I def talked about solving problems in my PS

ChowieBean

12:03

@HowlEngineer: what's your dream school

MildChiller

12:08

"Have you applied for admission to [school] in a prior year" I applied in Oct. of the 23-24 cycle, should I put 23 or 24 as the year I applied?

MildChiller

12:09

Bcuz 2023 is when I technically applied but I applied for admissions in 2024

ChowieBean

12:14

2024 cuz that's when you would've been admitted

ErraticFearlessGecko

12:17

I agree with Howl

ChowieBean

12:19

Gecko what's ur dream school

ErraticFearlessGecko

12:20

Hard to say. I'm pretty firmly committed to the philly area so probably temple or villanova

ErraticFearlessGecko

12:20

Also relatively debt averse so I'd have to get a good scholarship from BC or Fordham to want to go but that's not very likely for me

ErraticFearlessGecko

12:21

Any advice? lol

[] baddestbunny

12:25

what’s a good scholarship for you? what would make BC or Fordham worth it?

ChowieBean

12:25

Hmmmm let me think

[] baddestbunny

12:25

fordham’s max aid they give is 45k per year

ErraticFearlessGecko

12:29

Bunny I can possibly get a 75%+ scholarship from villanova or temple, and I'd be moving back in with my parents if I went there so I'd have near-zero COL. It'd be really hard to beat that

ErraticFearlessGecko

12:29

I would prefer BC over Fordham just because I like boston more, but I'm expecting a WL there tbh

ErraticFearlessGecko

12:31

I would maybe consider BC with $ but I don't know how to decide if a better biglaw chance is worth the COL + higher tuition

Law01

12:50

How do I know if my status checkers are properly linked

HowlEngineer

12:59

@ChowieBean: right now, Michigan, but there are several that come close. How about you?

HowlEngineer

13:05

@Law01: I haven't gotten the status checkers to work at all. When I sent an email to the LSData folks the other week, they said they were working on fixing them

HowlEngineer

13:10

but I think "Last Checked" would change from "Never" to something else

ChowieBean

13:30

@HowlEngineer: I'll get more specific once I get my LSAT score, but NYU, Berk, GTown, UCLA

ChowieBean

13:30

Anywhere that's top for PI

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