Settling a Norcross Car Accident Case
Not every injury lawsuit results in a trial on the plaintiff’s allegations. A majority of such cases result in all involved parties reaching a settlement agreement. A settlement agreement occurs when both the plaintiff and defendant have agreed to end the lawsuit upon the performance of specific terms.
These terms most frequently involve the defendant agreeing to pay the plaintiff a sum of monetary compensation in return for dropping the claims against them. Settling a Norcross car accident case may be an appropriate way to resolve your claim, and an attorney could help you through this process.
When Should Someone Settle a Motor Vehicle Accident Lawsuit?
Plaintiffs and defendants may settle a pending lawsuit at any time. Both parties may initiate settlement talks, and either party may terminate settlement negotiations for any reason. Additionally, there is no requirement that negotiations last for any specific amount of time.
Several factors may spur a party’s decision to open settlement talks. A party may, for example, be afraid of losing at trial and a settlement may be a way for that person to mitigate their risk of loss. Alternatively, one party may pursue a settlement agreement with the other after realizing the costs of continued litigation may exceed the cost of settling the matter. Plaintiffs in Norcross may wish to debate with their attorneys whether it makes legal and financial sense to settle their car accident case as part of their overall strategy.
Benefits of Settlement Agreements
Settlements can present benefits to both plaintiffs and defendants. For plaintiffs, a settlement agreement offers a certain amount of compensation that is not subject to revision or appeal. Additionally, plaintiffs could receive compensation through a settlement offer much sooner than they might otherwise receive it.
For defendants, settlements may be a way to resolve pending litigation while limiting the time and resources expended in so doing. The amount of compensation a defendant pays through an agreement may be substantially less than the amount they would pay after losing at trial. Moreover, settlements do away with the need for costly and time-consuming appeals.
What are the Potential Disadvantages of Settling?
All of this is not to say that settlements are not without their drawbacks for both plaintiffs and defendants. When settling a case, many plaintiffs agree to less compensation than they might potentially obtain at trial. However, when a plaintiff in Norcross works with an attorney to settle a car accident case, their legal counsel could determine if they are receiving a fair offer. Moreover, plaintiffs may need to waive their rights to pursue other related claims, such as against an employee of the defendant.
For defendants, any settlement may require them to pay compensation under circumstances where the facts may not definitively indicate they are liable for any damages. A defendant may, therefore, end up paying far more through a settlement than they would by defending themselves at trial.
Discuss Settling a Norcross Car Wreck Lawsuit
An attorney’s advice can be of great benefit when settling a Norcross car accident case. Every lawsuit is different, and settling a claim under one set of circumstances does not mean a settlement is in your best interests. With an experienced lawyer’s advice and assistance, you can better decide how to resolve your case.