Rigors of Personal Injury Settlements
Personal injury cases are considered as one of the more common forms of civil cases prevalent in our legal realm today. This usually involves claims that concerns individual negligence brought about by the act of another and that a consequent injury or damage to property.
These claims are for the reparation of any financial obligations brought about by the repair of the motor vehicle involved in the accident. It may also answer for any medical treatments and evaluations because of the injury experienced. Similarly, the settlement demand involves an indeterminate amount for pain and suffering dependent on the effect the injury had on the victim.
But like other civil cases, personal injury claims may actually be made subject of negotiations and settlements outside court. These settlements arrived at are as good as any other judgment made by an executive judge or by any jury of peers.
Otherwise known as alternative modes of settling disputes, arbitration and mediation has been viewed in a positive light by lawmakers and the jury system as a whole. Apart from the obvious fact that it would clear the clogged dockets of our courts of law, it also fosters the foundation of human relations catering to harmonious relationship between and among its citizen.
Alternative modes of settling disputes have long been utilized in personal injury cases. Not only would it save time and effort for the opposing parties but it would also save costly financial resources as well. Another fact note worthy to state when it comes to personal injury settlements is that the determination of the amount of settlement is actually dependent on the amount arrived at by the parties.
This means that the initial demand settlement incorporated in the demand of the injured party may actually be decreased on the basis of agreements arrived at by the parties. Hence, this would actually foster the bargaining of the parties on the basis of the level of negligence, amount of damages, and the financial capacity of the wrongdoer. The most important part when it comes to settlement arrived at outside of court processes is the fact that any settlement arrived at with full knowledge and discretion of all the parties thereto are actually considered as final and executory.
This means that any agreement arrived at with full consent and within the knowledge of all the parties can no longer be appealed and the parties are actually bound thereby.