final settlement

final settlement

n. an agreement reached by the parties to a lawsuit, usually in writing and/or read into the record in court, settling all issues. Usually there are elements of compromise, waiver of any right to re-open or appeal the matter even if there is information found later which would change matters (such as recurrence of a problem with an injury), mutual release of any further claim by each party, a statement that neither side is admitting fault, and some action or payment by one or both sides. In short, the case is over, provided the parties do what they are supposed to do according to the final settlement's terms. With the glut of cases crowding court calendars and overwhelming the system and delays in getting to trial (due to three factors: increased criminal case load, increased litigious nature of society, and an insufficient number of judges), judges encourage attempts to settle, including mandatory settlement conferences with judges or experienced settlement attorneys present. (See: settlement)

References in periodicals archive ?
Any American announcement on the status of Jerusalem before a final settlement is reached will harm the peace process and increase tension in the region," Prince Khalid bin Salman bin Abdulaziz, the Saudi ambassador to the United States, said in a statement.
At the same time, he (Ravi) should take the responsibility to make NSCN (IM) chief, Muivah, understand that the participation of other NNPGs in final settlement of the Naga issue is essential.
PIC announces that, following the conclusion of arbitration proceedings with Dow earlier this year and having exhausted all possible challenges to the award made in the arbitration proceedings, it has reached final settlement of its dispute with Dow related to the K-Dow transaction," said the compay's statement on Tuesday.
As far as the period for settlement is concerned, going strictly by the rules, the final settlement needs to happen on an employee's last working day at the organisation.
The Castor Seed futures contract expired on 15th February, and its Final Settlement Price was fixed at Rs.
FINAL settlements to miners suffering chest diseases may not be made until 2012, Plaid Cymru warned yesterday.
Precise details of the agreement remain sketchy but it is believed that the final settlement will fall somewhere between Magnier's initial offer of two nominations per year, worth an estimated pounds 1.
The peace initiative, if confirmed, would be an attempt to break the deadlock over one of the most contentious issues barring the way to a final settlement of the Israeli-Palestinian crisis.
Now the final settlement is reported in the income year, a practice that makes it substantially easier to interpret general-government saving (see also the Public Finances section).
Since this is undeniably the case, we will have a very difficult time getting the Israelis and the Americans to live up to any commitments that they make in writing about an Interim Agreement, let alone a Final Settlement.
As a result of the agreement Report and Recommendation of the Special Master, a total of $415 million was awarded to the members of the class in the final settlement agreement.
Specialized transactions, which may include those for various classes of securities and equities and their derivative products, rely on traditional payment mechanisms for final settlement but increasingly involve the preliminary step of netting.