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To be enforceable under Code of Civil Procedure §664.6, the material terms of the settlement must be explicitly defined in the agreement. A settlement agreement, like any other contract, is unenforceable if the parties fail to agree on a material term or if a material term is not reasonably certain.
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Key elements of a Settlement Agreement Financial compensation: The agreement will set the amount and when the payment will be received. Confidentiality obligations. Restrictive covenants: Specifying any post-employment restrictions or non-compete clauses.
Although the law presumes that settlement agreements are valid, they generally are subject to contract defenses, including mistake, unconscionability, duress, undue influence, and fraud.
'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.
Motions to Enforce Then, if one party is not complying with the settlement agreement, the other party may file a motion to enforce the agreement. In the motion, the party asks the court to enter a judgment pursuant to the settlement's terms. This applies when the settlement agreement is reached in pending litigation.
Failure to settle a property within the stipulated time frame can cause both legal and financial troubles. Vendors have the right to pursue legal action and financial damages, including recovering their initial deposit and cancelling the contract altogether. In some cases, a vendor may also sue for damages.
However, if one of the parties fails to follow through with the settlement agreement, the aggrieved party may file a motion in court to enforce the agreement. Generally, the motions requests the court to enter a judgement pursuant to the settlement's terms.