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Matt Powell explains what an Offer of Settlement is and how they work.
We will explore some strategies that may help reduce your risk and increase your recovery by using an Offer of Settlement.
The Offer of Settlement laws and procedures are very complex and have undergone numerous changes since they were first created. This video is a simple overview of the Offer of Settlement procedure. But every case is unique and there are lots of variables that affect each Offer. But this video should help give you a basic foundation of how you can use them in a personal injury case.
Most people have heard that in England, the loser of a law suit has to pay the winners attorney fees. Well in Florida, we have a similar law that says if any party offers to settle the case with the other side, and the other side rejects the offer, and you go to trial and win by more than 25% of your offer, then as a penalty to the side who made you go all the way to trial, they may have to pay your attorney fees on top of your award.
This sounds simple enough, but let me tell you it is very complicated.
There is a lot of strategy that goes into deciding how much to make an offer for, when to make it, and for how much.
Offers of Settlement are common in personal injury cases. In a typical car accident case that is litigated considering how to send an Offer of Settlement is very important, as well as understanding how to respond to one if it is sent to you.
Matt Powell is a Board Certified Civil Trial lawyer who has created many information legal videos to help the public understand theri rights.
www.MattLaw.com