by John Darer CLU ChFC MSSC CeFT RSP CLTC
A Structured Settlement is Not a Judgment
Like fruit in Scotch Old Fashioned, a structured settlement factoring company has muddled up the definition of structured settlement in its advertising cocktail. Oh dear!
"A structured settlement is a defined set of payments to be made in the future from one party to another as a result of a civil lawsuit judgement. For example, if you win a personal injury case, the defendant may be required to pay you $500 per month".
A structured settlement factoring company has muddled up the definition of structured settlement in its advertising. Oh dear!
What Exactly is a Structured Settlement?
What is a "Judgement"?
The usage of judgment in American English is more acceptable spelling than judgement. However, UK spelling also accepts this word in their dictionaries. You should also use this spelling in legal proceedings and documents. For example:
- You made a hasty judgment of her ethnicity.
- The three types of judgment are a confession of judgment, consent judgment, and default judgment.
Judgement also means decision or opinion. However, this spelling is only correct in British writing. It’s also mostly used in the non-legal context, as recommended by the Oxford style guide Source : Judgement vs. Judgment - What's the Difference? (grammarist.com)
Now that we've got THAT out of the way... What is a Judgment?
Judgment means the final decision made by a court or tribunal. After the judges consider all the relevant evidence of the legal trial and consider al rights and obligations, the plaintiff and defendant will receive the final ruling. This judgment could end the potential or existing dispute among the dispute parties by listing which side was ruled in favor of, and listing what remedies are to be awarded. According to U.S.C.§636(c)(3), each party could appeal directly to the court of appeals against the existing judgment. Source: Legal Information Institute Cornell Law School
In Part V of these Rules of Civil Procedure:
What is a Friendly Suit in Texas?
Is a Judgment a Settlement in New York?
- A judgment is not a settlement in New York See Judgments | NY CourtHelp (nycourts.gov)
- A structured judgment pursuant to CPLR Articles 50A or 50B is not a stuctured settlement.
- A judge must approve a settlement where a minor or incompetent is involved or in death claims involving an Estate.
Is a Judgment a Settlement in Connecticut?
- A judgment is not a settlement in Connecticut
- Judgment: A court decision. Also called a decree or an order.
Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims. Source: Connecticut General Statutes 52-195c