Stipulated Judgment
A stipulated judgment is a legal agreement between parties in a lawsuit that outlines the terms and conditions under which they agree to resolve their dispute. This judgment is typically reached before a trial and is submitted to the court for approval. Once the court ratifies the stipulated judgment, it becomes enforceable as a court order.
The process begins when the parties involved negotiate the terms of the settlement, which may involve the payment of damages, the performance of certain actions, or the refraining from specific behaviors. After reaching an agreement, they submit the stipulated judgment to the court, which reviews it to ensure that it is fair and complies with the law.
For example, in a contract dispute, the parties may agree that one party will pay a specific sum to the other in exchange for the dismissal of the lawsuit. Once the stipulated judgment is filed and entered by the court, the party making the payment must comply with the terms, and failure to do so may result in further legal consequences.
In summary, a stipulated judgment serves as an efficient means to resolve disputes, often saving the parties time and resources compared to prolonged litigation. It reflects the parties’ mutual agreement and provides a clear resolution enforceable by the court.
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