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LSDefine

Simple English definitions for legal terms

Settlement

Read a random definition: protection covenant

A quick definition of Settlement:

Settlement: A settlement is an agreement that ends a disagreement or problem between people or companies. It means they have decided to stop fighting and have come to an agreement. Sometimes, they keep the agreement private. In business, settlement means paying off a debt or closing an account. In wills and estates, settlement means finishing all the tasks that need to be done after someone dies, like giving away their things to the people they wanted to have them.

A more thorough explanation:

Definition: Settlement can mean different things depending on the context. Here are some common definitions:

  1. An agreement that ends a dispute and results in the voluntary dismissal of any related litigation. This means that two parties who were in a disagreement have come to an agreement and decided to stop any legal action. The terms of the agreement are often kept private. For example, if two people were in a car accident and one person sued the other, they might settle out of court by agreeing on a certain amount of money to be paid to the person who was injured.
  2. In business law, settlement refers to the payment, satisfaction, and closing of an account. This means that a debt has been paid off and the account is closed. For example, if a company owed money to a supplier, they might settle the account by paying the full amount owed.
  3. In wills and estates, settlement refers to the complete execution of an estate by the executor. This means that all of the tasks related to distributing the assets of a deceased person's estate have been completed. For example, if someone passed away and left behind a will, the executor of the will would need to settle the estate by distributing the assets to the beneficiaries named in the will.
  4. In wills and estates, settlement can also refer to the conveyance of property interests to beneficiaries in a way that alters what they would receive as heirs under statutes of descent and distribution. This means that the beneficiaries named in a will might receive more or less than they would have if the estate had been distributed according to the laws of the state. For example, if someone left behind a will that gave a larger share of their estate to one child than the others, that child would receive more than they would have if the estate had been distributed equally among all of the children.

Overall, settlement refers to the resolution of a dispute or the completion of a task related to a legal matter or estate. It can involve agreements, payments, and the distribution of assets.

Settle | settler colonialism

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General

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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