According to the most recent estimates, approximately 95% of civil cases are resolved through pre-trial settlement negotiations. While it may seem that an attorney’s assistance is not necessary with the chances being so high that a case will not make it to trial, the exact opposite is true. Virginia personal injury attorneys are crucial to negotiating favorable settlement offers, and ensuring that the terms of the offer are fair to their client.
A settlement agreement is a contract between the parties. Most often, the agreement is that the plaintiff will withdraw their case against the defendant and in return, the defendant will provide some amount of compensation to the plaintiff. Normally, the amount of compensation provided to the plaintiff is less than it would likely be if the plaintiff were to succeed at trial; however, the plaintiff is provided with the certainty that they will be recovering a given sum for their injuries
Virginia personal injury plaintiffs should take care in executing a settlement agreement because these are binding contracts. A recent case illustrates one potential problem that a plaintiff may face when executing a settlement agreement with some, but not all, of the potentially liable parties.