A Settlement Agreement is used when a conflict has already occurred or may occur to settle the dispute out of court.
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Ready to use legal template
Drafted by experienced lawyers
Compliant with Malaysian law
Ready to use legal template
Drafted by lawyers
Compliant with Malaysian law
Any legal relationship, whether between an employer and an employee or between a landlord and a tenant, is prone to conflict. It may be prudent to draft a settlement agreement in order to prevent protracted and costly judicial actions. During discussions, the parties may reach an agreement on some matters yet disagree on others. When an agreement is achieved, a Settlement Agreement can be signed, but it must be balanced! And what better way to obtain this agreement than with a settlement agreement produced by a lawyer or with the assistance of a lawyer in negotiating the parameters of the settlement agreement. Get a settlement agreement model and the support of a lawyer who specializes in litigation and negotiation with Themis Partner.
A Settlement Agreement is a sort of legal document that aids in the resolution of disputes between parties by reaching an agreement on the terms. This agreement is mostly utilized in civil law proceedings and serves as a legally enforceable contract. In advance, the parties agree on the outcome of the verdict.
When a settlement agreement is reached, there is typically no need for a lengthy or drawn-out judicial proceeding. Because they are produced through mediation methods rather than a trial, settlements frequently save clients time and money. A settlement contract, however, must be approved by the judge.
Many civil lawsuits result in a settlement agreement. The settlement prevents both parties from devoting resources to a lengthy trial. A settlement is reached when one party agrees to complete an action or pay a particular sum in exchange for the other side agreeing to end legal proceedings.
A settlement contract must meet certain legal standards in order to be valid. The agreement must be in written and include the following provisions:
| ➤ The promise made by one of the parties to complete the offer |
| ➤ The opposite party's acceptance of the terms of the offer in the case |
| ➤ Proof that both sides gave valid deliberation, and it must be offered without force |
| ➤ The parties must reach an agreement without coercion |
| ➤ It must serve a lawful purpose |
