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private settlement after a car accident

private settlement after a car accident

Postby megaman » Wed Mar 29, 2017 2:19 pm

This question regards something which actually happened (its not one of my purely academic questions)

A friend of mine had a car crash and ended up privately agreeing to be paid an amount of money.
It turns out that what he was paid is only worth half the actual damage.

My agreeing to this has he barred himself from making any sort of insurance claim/court claim against the other driver?

My initial thoughts are that the answer is yes but i am not sure.
and if possible could someone state some legal authority on this so i can give a evidence based answer

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Re: private settlement after a car accident

Postby atticus » Wed Mar 29, 2017 2:40 pm

Full facts needed, to understand what was agreed.
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Re: private settlement after a car accident

Postby shootist » Wed Mar 29, 2017 2:50 pm

I believe the fatal wording in an agreement is "In full and final settlement."
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Re: private settlement after a car accident

Postby dls » Thu Mar 30, 2017 6:32 am

If the agreement was to settle the claim then it is binding. He got paid quickly and without fuss. He got consideration.
It all depends on the words they used.
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