The vast majority of civil actions settle before going to trial. As trial lawyers, we spend a lot more time negotiating the terms of settlement than in the courtroom trying cases. After we’ve agreed on the terms we think of the case as being over, resolved. But, not so fast.
When is a settlement truly final and binding? To legal practitioners who deal with disputes every day, this can seem like an obvious question. A settlement occurs when the parties to a dispute have a meeting of the minds over the resolution of their case. However, what happens if one party to the dispute attempts to back out of the settlement due to “buyer’s remorse?” Does the other party have any recourse? Is it possible to enforce the settlement against the party who’s trying to rescind the deal? The answer is a resounding “It depends.” This article will set forth the basic rules regarding when a settlement is enforceable, and is intended to help practitioners avoid some common traps in the law.
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