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LSDefine

Simple English definitions for legal terms

settlement credit

Read a random definition: Federal Employees' Compensation Act

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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Tell us what's important to you
9:32
it's a personal statement and essay grind typa day
Hi chowie
How'd you feel about your test
10:01
good morning y'all
Morning
10:37
Gecko, I feel pretty good. Two of the RC passages had really tough inference questions -- hoping I narrowed down my answer choices correctly
10:38
Very happy with LR other than having to guess on a couple questions cuz of time
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
11:07
I'm sure you'll get a full ride to a few schools :P
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
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)
11:19
That school’s* culture
11:23
Thanks Howl you're right :D I def talked about solving problems in my PS
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
12:14
2024 cuz that's when you would've been admitted
I agree with Howl
12:19
Gecko what's ur dream school
Hard to say. I'm pretty firmly committed to the philly area so probably temple or villanova
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
Any advice? lol
[] baddestbunny
12:25
what’s a good scholarship for you? what would make BC or Fordham worth it?
12:25
Hmmmm let me think
[] baddestbunny
12:25
fordham’s max aid they give is 45k per year
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
I would prefer BC over Fordham just because I like boston more, but I'm expecting a WL there tbh
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
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