Personal Injury Settlement Agreement
I. Parties Involved
This Automobile Accident Settlement Agreement ("Agreement") is entered into on [DATE], by and between:
[PLAINTIFF NAME], residing at [PLAINTIFF ADDRESS] ("Plaintiff"),
[DEFENDANT NAME], located at [DEFENDANT ADDRESS] ("Defendant").
II. Background
Whereas, Plaintiff was involved in a motor vehicle accident on [ACCIDENT DATE], resulting in injuries and damages.
III. Settlement Terms
Compensation: Defendant agrees to pay a total sum of $[SETTLEMENT AMOUNT] to Plaintiff as compensation for injuries, medical expenses, and damages incurred as a result of the accident.
Release of Liability: In exchange for the settlement amount, Plaintiff agrees to release and discharge Defendant from any and all claims, demands, actions, and causes of action arising from the accident.
No Admission of Liability: This Agreement shall not constitute an admission of liability by Defendant but rather a compromise and settlement of disputed claims.
IV. Payment Terms
Payment Schedule: The settlement amount shall be paid in full within [NUMBER OF DAYS] days of the execution of this Agreement.
Payment Method: Payment shall be made via [PAYMENT METHOD], such as bank transfer or certified check, to [PLAINTIFF NAME].
V. Confidentiality
Both parties agree to keep the terms and conditions of this Agreement confidential and shall not disclose any information pertaining to this settlement to any third party, except as required by law.
VI. Legal Representation
Plaintiff and Defendant acknowledge that they have had the opportunity to seek legal advice and have fully reviewed the terms of this Agreement with their respective attorneys.
VII. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of [STATE], without regard to its conflict of laws principles.
VIII. Entire Agreement
This Agreement constitutes the entire understanding and agreement between the parties concerning the subject matter herein and supersedes all prior agreements and understandings, whether oral or written.
In witness whereof, the parties hereto have executed this Agreement as of the date first above written.
[PLAINTIFF NAME]
[PLAINTIFF DATE]
[DEFENDANT NAME]
[DEFENDANT DATE]
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