Enforcement of Oral Settlement Agreements
Maryland Bar Journal, Vol. 17, No. 10, December 1984, pp. 24-24.
2 Pages Posted: 20 Sep 2014
Date Written: December 1, 1984
Abstract
A common occurrence in litigation is settlement. Settlement is usually effectuated by a formal written agreement, or by the exchange of a release, dismissal with prejudice, or covenant not to sue, or all of the above, for a sum of money. Prior to such formalization, there is a time when the parties reach a verbal understanding as to the terms. What happens after a verbal agreement to settle a case when one party refuses to execute a written settlement agreement or otherwise perform his or her obligations?
Keywords: litigation, settlement, written agreements, dismissal with prejudice, covenant not to sue, releases, verbal understandings, compromise, oral settlement agreements,
JEL Classification: K19, K39, K41, K49
Suggested Citation: Suggested Citation