A settlement takes place outside of any courtroom. How does that process work, and why do claimants seem to prefer that option, as an alternative to a trial?
What makes a settlement possible?
Two opposing parties can settle if the plaintiff has agreed to relinquish all potential claims against the defendant. The plaintiff’s signature gets placed on a release form. That signed form indicates that the defendant’s insurance company cannot be held responsible for any new symptoms or any complications.
Advantages linked to settling
Utilization of that process allows the plaintiff to enjoy a larger amount of certainty, with respect to the size of the settlement. Plaintiffs that have chosen to have their cases decided in a courtroom should accept the risky nature of that option. No one can tell what a jury’s verdict might be as per Personal Injury Lawyer in Ottawa.
No information about either party gets shared with members of the public. Those that have to testify in court do not enjoy that same level of privacy. Understand that even plaintiffs might have personal stories that had not become public knowledge, prior to the revelation of certain statements, during the trial.
By selecting a settlement, a claimant manages to shorten the amount of time that must pass, prior to receipt of any money. If a judge and jury were to decide in favor of a plaintiff, the defendant would still have the right to appeal, if he or she chose to do so. The appeal process has the ability to add months, sometimes years, to the length of the plaintiff’s wait for the anticipated money.
Clients of personal injury lawyers tend to benefit by settling any dispute with a responsible party. That out-of-court process does not offer a method for the loss of a case. In contrast, a plaintiff’s case does not always result in money for the same plaintiff, because a jury does not always produce a favorable verdict.
A defendant with a legal defense team also reaps a benefit by settling. The settlement process does not force the defendant to admit guilt. That freedom from admission of guilt would disappear, if the opposing parties were to opt for pursuit of a lawsuit, and the holding of a trial.
Drawbacks to settling
Claimants that have elected to negotiate with an insurance adjuster, regardless of the absence of a lawyer, lack the ability to know exactly when to accept an offer, and when to reject an adjuster’s bid. For that reason, any one of them might choose to settle at a time when it would have been possible to request a larger amount of money. That fact underscores a drawback to opting for a settlement, instead of hoping for issuance of a court-ordered judgment.