Statutory Offer Of Settlement Definition and Legal Meaning

On this page, you'll find the legal definition and meaning of Statutory Offer Of Settlement, written in plain English, along with examples of how it is used.

What is Statutory Offer Of Settlement?

(n) Statutory offer of settlement is the written offer made by the defendant to the plaintiff offering a compensation by way of money or otherwise settling, an amount as consideration for satisfaction of his claim and withdrawing the suit. Such offers which need to be filed with the court, will close all claim of the plaintiff is accepted by him