Special Settlement Agreements Self-Quiz

 

 

 

 

 

 

 

Which of the following settlement agreements would usually require court approval?
Choice 1 An agreement to settle a case involving serious bodily injury.
Choice 2 An agreement to settle a straightforward case where one party happens to be a minor.
Choice 3 An agreement to settle for an amount in excess of $1 million.
Choice 4 None of the above – no settlement agreements require court approval.
A settlement agreement which includes payments for a period longer than 10 years:

Choice 1 Is a structured settlement.
Choice 2 Could be invalid, depending on the state’s version of the Rule Against Perpetuities.
Choice 3 Are impermissible as a matter of policy.
Choice 4 Are permissible only in personal injury cases.
“FRCP” stands for”
Choice 1 Federal Rules of Contracts and Property.
Choice 2 Federal Regulations Concerning Plaintiffs
Choice 3 Four Reasons Contracts Perish
Choice 4 Federal Rules of Civil Procedure
Rule 68 refers to:
Choice 1 The last in a long list of rules governing valid contract formation.
Choice 2 A procedural rule which encourages parties to negotiate.
Choice 3 The 1968 Supreme Court case of Franklin v. Rule which established the right of parties to withdraw from litigation upon mutual consent, in order to finalize a settlement agreement.
Choice 4 One of the many rules to keep in mind in order to negotiate successfully on your client’s behalf.
Over a year ago, Otis sued Angelo in federal court on a breach of contract claim. Because of the complexity of the case, discovery has gone on for more than 15 months and has been a very expensive and time-consuming process for both sides. Finally, trial is set to begin on February 1st. As Angelo’s legal team makes its way through the mountain of documents and digital document files, a particularly astute paralegal notices something which could be devastating to their defense. When he mentions this to the supervising attorney, the team quickly consults Angelo and advises him to try to settle the matter. Angelo agrees, and on January 20th Angelo’s lead counsel, Ryan, messengers over a settlement offer to the plaintiff’s attorney. The settlement offer was for $1 million. By February 1st, the defense team has not heard back from Ryan or his client, and trial commences. As might have been predicted from the discovery process, this is a long, drawn-out trial, in which costs for each side quickly reach into the hundreds of thousands of dollars. In the end, the jury finds in favor of the plaintiff, awarding Otis $800,000. Angelo is rather upset, as the judgment against him plus his attorney’s fees add up to well over $1 million. Is there anything you can say to Angelo to cheer him up at least a little, even if he’s unlikely to smile for quite awhile?
Choice 1 Tell him that he can recover his attorney’s fees and court costs for the case from Otis under the common law rule of respondent superior.
Choice 2 Tell him he can recover any costs incurred since January 20th, if state law permits it.
Choice 3 Tell him he can recover any costs incurred since January 20th, in accordance with the court’s procedural rules.
Choice 4 No, there is nothing you can say to lighten the blow.

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