statutory offer of settlement

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statutory offer of settlement

n. a written offer of a specific sum of money made by a defendant to a plaintiff, which will settle the lawsuit if accepted within a short time. The offer may be filed with the court, and if the eventual judgment for the plaintiff is less than the offer, the plaintiff will not be able to claim the court costs usually awarded to the prevailing party.

References in periodicals archive ?
Should an award in final judgment prove smaller than the original settlement offer in such cases, no attorneys fees would be granted after service of the offer of judgment, the bill says.
If this case heads to trial, a proposal for settlement, offer of judgment or similar document may need to be filed.
The attorney sent MALDEF the offer of judgment a week and a half later.
The regulator accepted a $29 million offer of judgment from Credit Suisse, which resolved claims resulting from losses related to purchases of residential mortgage-backed securities by corporate credit unions Members United and Southwest.
79 of the offer of judgment statute is applicable and awarded appellate attorneys' fees to a prevailing party, the law of the case doctrine prevents a trial court from revisiting the issues of enforceability of the offer and entitlement to attorneys' fees.
The circuit courts are split on whether an unaccepted offer of judgment that fully satisfies a plaintiffs claim is sufficient to render the claim moot and thus beyond the judicial power of Article III of the United States Constitution.
Before Symczyk formally petitioned for class certif ication, the defendant made an offer of judgment under Federal Rule of Civil Procedure 68, offering to pay Symczyk $7,500 plus attorneys' fees and costs as determined by the court.
The report said that offer of judgment law could also encourage cases to settle before trial.
When one party's liability to another has been determined but the extent of liability remains to be determined by further proceedings, the party held liable may make an offer of judgment.
Jewel Lake Villa One, (1) the Alaska Supreme Court confronted the question of whether or not a defendant should receive full credit for pre-litigation payments made to the plaintiff by the defendant's insurer when determining whether the plaintiff beat a subsequent defense offer of judgment under Rule 68(b) of the Alaska Rules of Civil Procedure.
However, any offer of admission of liability, settlement offer, or offer of judgment made by an insurer or self-insurer was requited to be made "in good faith and in the best interests of the insured.
Shortly after the legislation was passed, the defendants made a $6,300 offer of judgment to the plaintiffs, which they rejected.