Last week, this Tennessee vehicle accident and personal injury legal blog offered its readers several reasons why it may not be to their advantage to settle their pending claims after a truck or commercial vehicle collision. This week's post will offer readers several reasons why settlements may be advantageous for those initiating truck accident cases. As wilh all discussions about litigation, though, readers are encouraged to consider discussing their cases with their attorneys to best determine if settlement may be a good option for them.
As mentioned in last week's post, a settlement ends or precludes litigation on a dispute, and generally cuts off a victim's right to pursue further legal action against the parties that caused the harm. From a financial perspective, settlement may be a good choice if a victim is wary of enduring a potentially long and expensive lawsuit. Once negotiated, a settlement is signed and accepted so that it may be enforced and the parties may move forward with their lives.
Additionally, since settlements are negotiated, the parties know what they will be responsible for if they were negligent, and what they will receive as compensation if they were the victims of the accidents. At trial, a victim may not have any certainty regarding what, if anything, will be received as damages; further, there is no guarantee that a victim will receive compensation, as a defendant may prevail and be found to have not been in the wrong.
A well-written demand letter may press a potential defendant in a truck accident case to offer to settle a matter before any litigation paperwork is filed. Attorneys who practice personal injury law are excellent resources for truck accident victims who want to make good decisions about their options to litigate or settle their pending legal claims.