Cleveland Personal Injury Attorney Answers: What Is an Out-Of-Court Settlement in Ohio? June 15, 2012.
An out-of-court settlement occurs when 2 parties of a lawsuit negotiate and agree upon a resolution without taking the claim to court. Out-of-court settlements are often done through the legal representatives of each party, and are common among personal injury, car accident, and divorce claims.
To boil it down, an out-of-court settlement is essentially the plaintiff (the injured party) assenting not to pursue a trial or any further legal action in exchange for a certain amount of monetary compensation or other agreed-upon terms. Out-of-court settlements offer a fairly quick and affordable way of recovering costs and damages for car accident or personal injuries. There are many Cleveland personal injury attorneys that can assist you.
Your settlement should take into account:
- the amount of damages and costs incurred due to the accident or injury;
- verdicts and settlements in cases similar to yours;
- the strength of your evidence and chances of winning in court;
- the strength of the defendant’s evidence;
- the defendant’s monetary resources;
- the likelihood of a trial;
- possible disclosure of business or trade secrets if the case goes to court;
- the amount of insurance coverage the defendant has;
- any unfavorable publicity or press you will receive if the case goes to court;
- the history and negotiation tactics of the lawyers involved.
Always talk to an experienced lawyer before agreeing to an out-of-court settlement. A Cleveland personal injury attorney like those at Mellino Law Firm can help ensure you are getting an adequate settlement for the damages you have suffered.
Considering a settlement? Call (440) 333-3800 to speak to a Cleveland personal injury attorney today.