22:58
WHAT WE GET TMRWWWW?
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
judicial settlement
Read a random definition: superpriority
A quick definition of judicial settlement:
Judicial settlement is a way to solve a disagreement or lawsuit with the help of a judge who is not assigned to the case. This can be helpful because the judge has experience in deciding what a fair solution might be. It is also the process of transferring property or interests in property to provide for beneficiaries, usually family members, in a way that is different from what they would receive as heirs. There are many different types of settlements, including structured settlements, which involve periodic payments, and out-of-court settlements, which are reached without the court's involvement.
A more thorough explanation:
Judicial settlement is a legal process where a judge helps parties in a civil case reach an agreement or settlement. This is different from a regular settlement where the parties come to an agreement on their own. Judicial settlement is often used when parties want to take advantage of a judge's experience in evaluating the settlement value of a claim.
- After months of negotiations, the parties in a personal injury case decided to seek a judicial settlement to finalize the agreement.
- In a divorce case, the couple decided to use judicial settlement to come to an agreement on child custody and support.
These examples illustrate how judicial settlement is used in civil cases to help parties reach an agreement with the assistance of a judge. It can be a useful tool when parties are having difficulty coming to an agreement on their own.