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What disadvantages are there to settling a truck accident claim?

When people become the victims of injury-causing accidents they generally hold the rights to sue the party or parties that caused their harm and pursue compensation from them for the losses they sustained as a result of the incident. In Tennessee, individuals initiate personal injury legal claims for a myriad of reasons, many of which stem from losses incurred from vehicle accidents. This post is going to focus primarily on truck accidents and one way that a defendant in such a case may try to prevent a plaintiff from fully exercising their legal rights to try their case in court.

As the victim of a truck accident, a person may have many possible defendants to include in a pleading. The suit may name the driver of the truck as well as the company or entity that owned the truck. It may also name the company or entity that caused the truck to be on the road and any other individuals or entities that may have contributed to the harm that the victim experienced. Trying a big case such as this can be lengthy and expensive, so in some cases, parties may push to settle the case out of court.

A settlement ends litigation when the parties agree to several important considerations. First, the defendants generally agree to compensate the victim at an agreed upon sum. Second, in exchange for the settlement award, the injured party must waive any right to ever sue the defendants again on the claims that were settled.

While in some cases, a settlement may adequately compensate a victim, in other cases it may not. A victim may walk away from a truck accident settlement with less than he or she could have been awarded had the case been tried. After a settlement is finished, such claims cannot be pursued. Although for some victims a settlement can be beneficial, for others it can reduce their rights and leave them with less financial recovery than they could have sought in court. To better understand if a settlement may serve their interests, readers are asked to consider contacting personal injury attorneys in their communities to discuss their particular cases.

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