Final Settlement

Business, Legal & Accounting Glossary

Definition: Final Settlement




What is the dictionary definition of Final Settlement?

Dictionary Definition


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 reopen 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.


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https://payrollheaven.com/define/final-settlement/
Modern Language Association (MLA):
Final Settlement. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 21, 2021 https://payrollheaven.com/define/final-settlement/.
Chicago Manual of Style (CMS):
Final Settlement. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/final-settlement/ (accessed: September 21, 2021).
American Psychological Association (APA):
Final Settlement. PayrollHeaven.com. Retrieved September 21, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/final-settlement/

Definition Sources


Definitions for Final Settlement are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 28th April, 2020 | 0 Views.