The simple filing of a personal injury claim does not provide the claimant with assurance of monetary help. On the other hand, the ability to win a settlement does offer promise of relief from financial concerns.
When might a settlement get reached?
• Following a series of negotiations between 2 disputing parties.
• At the conclusion of a successful mediation session.
• It could come about as the court has interpreted the law, as applied to a given case.
Essential elements of a settlement
Basically, before the 2 sides settle, both of the disputing parties have sought a resolution.The plaintiff agrees to take no further action and the defendant compensates the plaintiff.
The advantages linked to agreeing to a settlement, as opposed to seeking a court verdict.
Injury Lawyer in Ottawa knows that negotiations allow for a faster resolution. A court trial can stretch out for months; it begins with presentation of each side’s arguments, as made by the lawyers. After that, the same lawyers question the witnesses. Finally, one lawyer for each side gives a closing argument. All that takes time.
Even after the reading of the verdict, neither side can be sure that the case has been resolved. Either side might seek to mount an appeal. If the court were to grant a request for an appeal, there would be a new trial. Ideally, the verdict from that second trial would allow for resolution of the tried case.
Understand that more than time can seem to vanish, during a lengthy court trial. That same process can force both sides to pay more money, in order to cover court costs. In other words, negotiations save both time and money.
Consider, too, the sort of setting in which negotiations normally proceed. Those take place in a private location, or through private communications. During a trial, facts about the private life of either party might be exposed. Not everyone welcomes the thought of having members of the public hear about certain aspects of their private life.
Finally, weigh the above advantages against the risks that are linked to pursuit of a jury’s verdict. No one can predict what that verdict might be. It could ask that the plaintiff be given a large award. On the other hand, it could provide the plaintiff with only a limited number of funds.
That is why insurance companies do not like to face a claimant/plaintiff in a courtroom. It is impossible to know what the jury might decide. For that reason, insurance companies have learned how to be good at pursuing negotiations. Plaintiffs can hire an attorney that has taken part in many negotiations. That fact should underscore the wisdom behind negotiating some sort of settlement, as opposed to suing the opposing party.