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Settlement Agreement Resolving Claims of a Small General Practice Firm

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State:
Multi-State
Control #:
US-L06031C
Format:
Word; 
PDF; 
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Description

This document settles the claims of partners in a small, general practice law firm that is going through dissolution. It provides for the monetary sums to be received by the two former partners, along with their respective duties for completing the close of the partnership

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FAQ

Unless you have already have another job to go to, it is not easy to ascertain how long you will be out of work, but as a general rule of thumb, a payment equivalent to six month's salary is considered to be a good settlement.

Key Obligations. Also called the terms of settlement, these include who will pay or do what, and what will happen after the payment is made or the actions completed. They should include details like a payment deadline. Release. Parties agree to release each other from all future claims, demands and actions.

Take pictures/video of the property damage, accident scene, and injuries. Obtain a copy of the police report. Seek medical treatment ASAP. Use your personal injury protection (PIP) policy to pay initial bills, then use your health insurance.

A Settlement Agreement (formerly known as a Compromise Agreement) is a legally binding agreement between you and your employer. This usually provides for a severance payment by the employer in return for your agreement not to pursue any claims in a Tribunal or a Court.

An offer. This is what one party proposes to do, pay, etc. Acceptance. Valid consideration. Mutual assent. A legal purpose. A settlement agreement must also not be "unconscionable." This means that it cannot be illegal, fraudulent, or criminal.

Research the law in order to determine how much your settlement agreement is reasonably worth. Use any personal connections that you have with management to negotiate your deal. Think about instructing specialist employment solicitors to advise you.

The agreement should list the rights, claims, obligations, or interests that will be released in the settlement as well as any claims or obligations that are not part of the settlement.

Some people wonder if they can save even more by money by writing their own settlement agreement and not seeking the help of a divorce attorney at all. While there is no legal requirement that you have a lawyer draft your settlement agreement, it is certainly a good idea to do so.

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Settlement Agreement Resolving Claims of a Small General Practice Firm