New Mexico Settlement Agreement between Dynamic Web-Enterprises, Inc. and VIRTUAL 'EX, Inc. regarding settlement of claims
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FAQ
A settlement agreement is a legally binding contract that outlines the resolution to a dispute. After negotiations but prior to a final judgement, parties can come to a mutual agreement to an outcome for the case and enter a legally binding settlement agreement.
Yes, once all the necessary written concurrences are obtained, a settlement agreement is binding on both parties.
Settlement offers are like contracts. When you sign them, they are binding. If you find information that causes you to change your mind, this may or may not change the validity of the settlement. The best way to know for sure whether a settlement is fair is to speak with your attorney.
In the event that there is a breach of a settlement agreement the offended party can: Initiate a civil claim in connection with the breach. Seek intervention by the court that would have had jurisdiction over the original dispute.
Although the law presumes that settlement agreements are valid, they generally are subject to contract defenses, including mistake, unconscionability, duress, undue influence, and fraud.