Simple Settlement Agreement

By Mike Broemmel
A settlement agreement is a binding contract resolving issues in a lawsuit or other dispute.

Hand and document at the meeting image by Dmitry Goygel-Sokol from Fotolia.com

A settlement agreement in a lawsuit or dispute does not need to be a complicated legal document. In fact, a settlement agreement can be a simple contract, provided it accurately sets forth the basic understanding of the parties.

Features

The features of a simple settlement agreement are the names of the parties, an outline of the agreements reached between the parties and signature lines for the parties.

Misconception

A common misconception is that for a settlement agreement to be binding, it must contain legalese. In fact, the most effective simple settlement agreement is one that uses easily understandable, plain language.

Benefits

The benefits of a simple settlement agreement include a contract resolving issues in a lawsuit or dispute that both parties understand. In addition, by signing a simple settlement agreement, the parties avoid the time and expense of prolonged litigation.

About the Author

Mike Broemmel began writing in 1982. He is an author/lecturer with two novels on the market internationally, "The Shadow Cast" and "The Miller Moth." Broemmel served on the staff of the White House Office of Media Relations. He holds a Bachelor of Arts in journalism and political science from Benedictine College and a Juris Doctorate from Washburn University. He also attended Brunel University, London.

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