Using the Settlement Agreement Form in Chapter 10 of the Text

question 86

Essay

Using the Settlement Agreement form in Chapter 10 of the text, one of your state's form, or a sample from the Internet, and information on the Coleman v. Make Tracks, Inc. case, draft a settlement agreement that reflects a fair settlement in the case. Assume for purposes of this assignment that Sean Coleman had medical expenses of $75,000, lost wages of $65,000, and out-of- pocket expenses of $10,000. He will have a permanent limp due to his injuries. (Be creative in drafting your agreement.)

Differentiate between the paid-in capital and retained earnings components of stockholders' equity.

Identify and understand the concept of legal personhood of corporations.

Discuss the implications of specific stock features, such as cumulative dividends on financial decisions and stockholder rights.

Understand the implication and accounting treatment of stock issued for noncash considerations.

---

Definitions:

Malfeasance

The performance by a public official of an act that is legally unjustified, harmful, or contrary to law.

Personal-Injury Litigation

A legal process where an injured party files a lawsuit seeking compensation for damages suffered due to another's negligence.

Paralegal

A person trained in legal matters who performs tasks requiring knowledge of the law and legal procedures, under the supervision of an attorney.

Membranous Urethra

The part of the urethra in males that passes through the pelvic floor and is surrounded by the external urethral sphincter.