Legal Case Settlement Agreement
This Legal Case Settlement Agreement ("Agreement") is entered into on [Date], by and between [Your Company Name] ("Company"), a corporation organized and existing under the laws of [State], with its principal place of business located at [Address], and [Opposing Party Name] ("Opposing Party"), an individual/entity with a principal place of residence/business at [Address].
WHEREAS, the Company and Opposing Party have been engaged in a legal dispute regarding the alleged breach of contract related to the sale of [Product/Service], which has resulted in potential litigation;
WHEREAS, both parties acknowledge the expenses, uncertainties, and burdens associated with prolonged litigation and desire to settle the dispute amicably and in good faith; and
WHEREAS, after negotiations and discussions, the Company and Opposing Party have reached a mutually acceptable settlement agreement to resolve all claims and matters related to the aforementioned legal dispute.
NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
Settlement Payment: The company agrees to pay the sum of [Settlement Amount in Words and Numerals] dollars ($[Amount in Numerals]) to the Opposing Party as full and final settlement of all claims, damages, costs, and expenses arising out of or related to the aforementioned legal dispute. Said payment shall be made within [Number] days of the execution of this Agreement, via [Method of Payment].
Release of Claims: Upon receipt of the settlement payment, Opposing Party, on behalf of themselves and their agents, successors, representatives, and assigns, hereby irrevocably and unconditionally releases, acquits, and forever discharges Company, its officers, directors, employees, agents, shareholders, subsidiaries, affiliates, successors, and assigns from any and all claims, actions, demands, rights, liabilities, obligations, damages, costs, and expenses, known or unknown, suspected or unsuspected, arising out of or in any way connected to the aforementioned legal dispute, whether arising under contract, tort, statute, or any other legal theory.
Confidentiality: The parties agree to maintain strict confidentiality regarding the terms and conditions of this Agreement, including the settlement amount, and shall not disclose such information to any third party, except as required by law or with the express written consent of both parties. However, either party may disclose this Agreement to their attorneys, accountants, financial advisors, and other professional advisors on a need-to-know basis.
Non-Admission of Liability: The parties agree that this Agreement and any payments made herein shall not be construed as an admission of liability, fault, or wrongdoing by either party. Each party expressly denies any such liability, fault, or wrongdoing, and this Agreement shall not be admissible as evidence in any proceeding, except for enforcement purposes.
Entire Agreement: This Agreement constitutes the entire understanding and agreement between the parties with respect to the subject matter hereof and supersedes all prior negotiations, agreements, and understandings, whether oral or written, between the parties. Any modifications to this Agreement must be made in writing and signed by both parties.
Governing Law: This Agreement shall be governed by and construed in accordance with the laws of [State], without regard to its conflict of laws principles. Any disputes arising out of or related to this Agreement shall be subject to the exclusive jurisdiction of the courts located in [Jurisdiction].
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.
[Your Company Name]
Name: [Printed Name of Representative]
Title:
Date:
[Opposing Party Name]
Name: [Printed Name of Opposing Party]
Title:
Date:
[Notary Public Signature and Seal]
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