Negotiate the basic elements of a settlement of the dispute with the other party.
Prepare a letter of agreement summarizing the points of the oral agreement reached. Because a settlement agreement takes time to draft, you do need to get the general points in writing immediately.
Use the letter of agreement as the outline to draft the settlement agreement.
List the parties to the contract in the first paragraph of the settlement agreement. If there is a lawsuit pending, include the caption from the case as well as the case number.
Set forth the specific items of agreement negotiated between the parties. Place each point of agreement in a separate paragraph in the document for clarity.
Include a clear statement that the settlement document is the entire agreement between the parties.
Include individual signature blocks for all parties to the agreement.
Execute the settlement agreement. Both parties need to sign the document. A notary public is not legally required. The parties can elect to sign the document in front of a notary public if they so desire.
- "Settlement Agreements" Richard A. Rosen"; 2000
- "Civil Procedure Examples & Explanations"; Joseph W. Glannon; 2008
- "Civil Procedure"; Stephen C. Yeazell; 2008
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