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 ?
A mother and her three young daughters who were subjected to a no-knock search warrant involving "flash-bang" grenades in Marion, Illinois have accepted an offer of judgment made by that city and five of its officers to resolve a civil-rights lawsuit.
After only five months of litigation and prior to summary judgment, Zen42 accepted W&L's offer of judgment for just under $100,000, exclusive of attorneys' fees.
Prior to trial, Bonterra had placed on the table an offer of judgment for $175,000.
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.
(20) The court explained that a "plaintiff with a sincere desire to settle, pursuant to an offer of judgment, is not prejudiced when a court grants an extension of time for acceptance after a good reason is shown by the offeree.
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.
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. It must be served within a reasonable time--but at least 10 days--before a hearing to determine the extent of liability.