Not all car accident claims that Pennsylvania residents file in the civil courts of the state will be litigated. Some will resolve before the make it to court by agreement of the parties. When individuals decide to find agreeable terms to settle their pending legal differences, the resolution may be called a settlement agreement.
Settlement agreements parallel standard contracts in their components. Generally, a settlement agreement will start with an offer, and the non-offering party will have an opportunity to accept the offer, reject the offer, or counter the offer. When an acceptable offer or counter offer is reached, a party must provide consideration for the actions of the other. When it comes to car accident settlement agreements, a victim may offer as consideration the release of all future damages claims against the responsible party in exchange for financial compensation.
Settlements can be incredibly beneficial to some individuals who do not require extensive financial recovery in order to get back on their feet after their car accidents. However, when victims suffer serious damages and may have to endure long-term costs to cope with their losses and injuries, settlements may not be adequate enough to satisfy the harm caused to them.
This post does not provide any legal advice to its readers, and it does not advocate for or against the settlement of personal injury claims. Victims of car accidents and other injury-causing events should investigate the appropriateness of settlements for the resolution of their own legal matters. Attorneys who provide personal injury support can help victims better understand their options for getting the financial help that they need.
