When is a case actually settled?
You would think there would be a clear, simple answer to this question. And you would be wrong. The question of when a settlement agreement creates enforceable obligations has, sadly but perhaps predictably, itself generated a significant amount of litigation. Obviously, a fully executed agreement, signed by the parties, will be routinely enforced, while stray discussions among counsel will not themselves create any enforceable obligations. But between these two extremes there is a large gray area—an area that has occupied and occasionally vexed New York judges, who must balance the strong judicial policy favoring enforcement of settlement agreements against concerns about holding parties to bargains that were not actually struck. This balancing act is made even more complicated by CPLR 2104, a New York rule that imposes strict requirements on the form of a settlement agreement.
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