Final Settlement Legal Meaning and Definition
Here is a simplified definition of the legal term Final Settlement.
Final Settlement (noun)
The Final Settlement refers to the final agreement or understanding reached between parties in a dispute or conflict. It is a process where all the involved parties resolve their issues through mutual consent, concessions, or compromise, no matter what their original stands or facts might be. This term is most commonly used in legal contexts, often to end disputes without proceeding to a court trial. The key characteristic of a final settlement is that it conclusively ends the dispute once agreed upon.