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.)

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Definitions:

Overstated Accounts

Financial accounts or records reported with higher values than they actually possess, often leading to a misrepresentation of financial health.

Transactions

Acts of buying, selling, or exchanging goods, services, or financial assets in the course of business.

Assets

are resources with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide future benefit.

Liabilities

Financial obligations or debts that a company or individual owes, which are required to be paid in the future.