Settle Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Settle, written in plain English, along with examples of how it is used.
What is Settle?
(v) Settle is the action taken by which the parties solve an issue between them by mutual negotiation among themselves to arrive at an amicable solution without waiting for the legal process.
History and Meaning of Settle
The term "settle" refers to resolving a dispute or issue between parties through negotiation and mutual agreement, without the need for legal intervention. This can involve coming to a settlement agreement, resolving a disagreement through arbitration, or simply reaching a mutually beneficial understanding.
The concept of settling disputes through negotiation or mediation has been a part of human history for centuries. In many cultures, disputes were traditionally resolved through community leaders or elders, who would facilitate discussions between the parties involved and help them find a mutually acceptable solution.
In the legal context, settling a dispute outside of court can save both time and money for all parties involved. It allows them to avoid the potentially lengthy and costly process of going through the court system.
Examples of Settle
- A landlord and tenant agree to a compromise on the terms of a new lease, avoiding the need for a lengthy court battle.
- Two business partners negotiate their exit from the company and come to a settlement agreement on the distribution of assets.
- A couple going through a divorce agree to a custody arrangement and property division without the need for a trial.
- An insurance company and an injured party come to a settlement agreement to avoid a lawsuit.
- A company and its former employee negotiate a settlement agreement to resolve a dispute over a contract.
Legal Terms Similar to Settle
- Mediation: a process by which parties attempt to resolve a dispute with the help of a neutral third party (the mediator).
- Arbitration: a process by which parties present their case to a neutral third party (the arbitrator) who makes a binding decision.
- Negotiation: the process of discussing and coming to an agreement on terms between two or more parties.
- Settlement agreement: a legally binding agreement between parties that resolves a dispute.