Thursday, February 12, 2009

Advantages of Settling Lawsuits

Lawsuits materialize because of two contending parties who do not come into terms. Principle, sometimes, urges the plaintiff to wait for a legal conclusion.

Lawsuits are not only expensive but also time consuming. If you file a case half heartedly then better not pursue it at all. File a case because you want to be vindicated and not because your lawyer advises you to.

In one study, settling has been proven better than litigating in court. Randall L. Kiser, co-author of the study, revealed that most of the plaintiffs who file and pursue their cases in court ended up getting less. This is because plaintiffs perceive that the settlement money is less not thinking that such amount would just be equal if not more than the court’s award.

Sixty one percent of cases filed in court have lack or less merit. Twenty four percent, on the other hand, have defendants to blame for not offering to settle the case.

Current statistics revealed that 80% - 92% settle. Though there is no way to know what could have been the conclusion, the benefits are clear and immediate if parties work out their differences amicably.

In this current economic downfall, we must weigh our options and strategies. Whatever we do must be geared towards our benefit. We must learn to put an end to something because it is more beneficial to us.