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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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18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
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.
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