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LSDefine

Simple English definitions for legal terms

settlement credit

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A quick definition of settlement credit:

Settlement credit: When someone sues another person or company and receives money from them to settle the case, the court may reduce the amount of money the person who lost the case has to pay. This is called a settlement credit. It's like getting a discount on what you owe because you already got some money from someone else.

A more thorough explanation:

Definition: Settlement credit is a term used in civil procedure to describe a court's reduction of the amount of a jury verdict or the effect of the verdict on nonsettling defendants. This reduction is made to account for any settlement funds that the plaintiff has received from former defendants or other responsible parties.

Example: Let's say that a plaintiff sues three defendants for damages resulting from a car accident. The jury awards the plaintiff $100,000 in damages. However, one of the defendants settles with the plaintiff for $50,000 before the verdict is entered. In this case, the court may reduce the verdict by the amount of the settlement, meaning that the plaintiff would only receive $50,000 from the remaining two defendants.

Explanation: This example illustrates how settlement credit works in practice. The court reduces the amount of the verdict to account for the settlement funds that the plaintiff has already received. This ensures that the plaintiff does not receive a windfall by recovering more than the actual damages suffered. It also prevents the remaining defendants from being unfairly penalized for the actions of a settling defendant.

settlement counsel | settlement date

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9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
Mich overrated (Dean Z please let me in even tho i didnt apply and I am below both 25ths)
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