When preparing or signing a personal injury settlement agreement, consider including an “inurement” section. The section may contain the following statement: “It is understood and agreed that this Settlement Agreement shall inure to the benefit of Plaintiffs and/or the representatives of Plaintiffs and to Defendants and/or the representatives of Defendants.” It may also include the following information: “No other person or entity is intended to benefit by or be deemed a third-party beneficiary of this Settlement Agreement.”
When preparing or signing a car accident settlement agreement, consider including an “express denial of liabilities” section. The section may contain the following statement: “Plaintiffs and Defendants and/or their representatives, understand and agree that nothing presented as Consideration as part of this agreement or pursuant to the terms of the Settlement Agreement, or other consideration given shall be intended to be, nor shall be construed to be, an admission of liability and any and all such liability is expressly denied by the Defendants.”
When preparing or signing a car accident settlement agreement, consider including a “severability” section. The section may contain the following statement: “If any one or more of the provisions of this Settlement Agreement shall be determined to be invalid, unlawful, or unenforceable, the remainder of this Settlement Agreement, and the application of such provision to persons, entities, or circumstances other than those as to which it is determined to be invalid, unlawful, or unenforceable, shall not be affected, and shall continue to be enforceable to the fullest extent permitted by law.”
If you have questions about contract law or settlement agreements, contact an experienced lawyer. The clauses that were discussed above are often integrated in personal injury settlement agreements and those related to real estate. A personal injury settlement agreement may be related to a wrongful death case or a car accident case. Too often an injured individual will want to handle settling the case on his or her own. The individual often thinks that they will be able to obtain more money for themselves by excluding attorney fees. But that is often not the reality. Our best advise is to consult a lawyer to make sure that all recoverable damages are sought and obtained.
Article By: Richard Weaver