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The parties hereto expressly agree and declare that they have arrived at this Family Arrangement in order to put an end to existing and future disputes between the parties and with a view to bring about amity and goodwill amongst them and with a view to maintaining peace and bring about harmony in the family.

'Terms of settlement' is a document that sets out the agreement between the parties to settle the dispute. There is no set form for terms of settlement. Terms of settlement can be handwritten at court after discussions between the parties.

Possible steps in a settlement discussion (employee still employed) Step 1: invitation to meeting. The employer simply invites the employee to a meeting at a mutually convenient time and place. ... Step 2: at the meeting. ... Step 3: written offer. ... Step 4: settlement agreement.

What Should Be Included in a Settlement Agreement? Identifying information for all involved parties. A description of the issue you're seeking to settle. An offer of resolutions that both parties agree to. Proof of valid consideration from both parties without coercion or duress. Legal purpose.

So all settlement documents must be interpreted in the same manner as any other contract would be interpreted. And a settlement agreement does not need to be in writing to be enforceable. An oral settlement agreement entered into by the parties can be enforceable so long as it does not violate the statute of frauds.

A Family Settlement Agreement acknowledges that the Personal Representative has carried out his or her duties for the estate. The Family Settlement Agreement removes the need to prepare and attend a Formal Accounting procedure in the Orphans' Court which can unnecessarily add to the time needed to close the estate.