Breach of Settlement Agreement
A Breach of Settlement Agreement occurs when one party fails to comply with the terms and conditions outlined in a legally binding settlement agreement. A settlement agreement is typically established to resolve disputes between parties, often involving the payment of money, the performance of specific actions, or refraining from certain behaviors.
When such a breach happens, the non-breaching party may have the right to pursue legal remedies. This could include seeking enforcement of the original agreement, claiming damages for losses incurred due to the breach, or potentially negotiating a new settlement.
For example, if a party agrees to pay a sum of money by a certain date but fails to do so, this constitutes a Breach of Settlement Agreement. The aggrieved party may then file a motion with the court to enforce the settlement or seek damages related to the breach.
It’s important for parties to understand the implications of a Breach of Settlement Agreement, as it can lead to further legal disputes and additional costs.
« Back to Glossary Index