What does structured settlement mean?
Table of Contents
What does structured settlement mean?
A structured settlement is a stream of payments to a person who won or settled a civil lawsuit. The defendant funds the settlement. These resolutions differ from lump-sum settlements because the money is paid out over time in an effort to provide long-term financial security to the recipient.
What does settled in principle mean?
In law, an agreement in principle is a stepping stone to a contract. Such agreements with regard to the principle are usually considered fair and equitable. Even if not all details are known, an agreement in principle may, for example, outline a schedule of royalties.
What happens after settlement agreement?
After the settlement agreement and full and final release have signed, and the checks have been issued, deposited in your attorney’s trust account and cleared the bank, your attorney will disburse the settlement money to you, to himself for any outstanding fees and costs, and to any other entity receiving funds such as …
Can you rescind a settlement agreement?
A settlement is a contract between the parties to a lawsuit that ends the case without a trial. Once the parties reach a settlement agreement, it becomes a binding contract, which can only be rescinded for limited reasons, such as fraud by one of the parties.
What does it mean to accept something in principle?
b) if you agree to something in principle, you agree about a general plan or idea but have not yet considered the details They have accepted the idea in principle. …
What is the difference between principle and principal?
A principle is a rule, a law, a guideline, or a fact. A principal is the headmaster of a school or a person who’s in charge of certain things in a company. Principal is also an adjective that means original, first, or most important.
What is principle agreement?
An agreement in principle (AIP) – also referred to as a Decision In Principle (DIP) or Mortgage In Principle (MIP) – is a written estimate or statement made by a lender to say how much money it would lend you if you were to buy a property.
Is money a principal or principle?
(In a loan, the principal is the more substantial part of the money, the interest is—or should be—the lesser.) “Principle” is only a noun, and has to do with law or doctrine: “The workers fought hard for the principle of collective bargaining.”
