Settlement Agreements | Corporate Law | Tressler & Associates
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settlement agreements

Settlement Agreements

When you run a business, you’re bound to run into disagreements. This might be with other partners or your employees. No matter how well you run your business, this is unavoidable, so it’s essential that you know what to do in advance to handle it. Of course, no one wants disagreements to run on forever or require costly litigation. To end these disputes in the best way possible for both parties, a settlement agreement is commonly the best resolution.

When you require a settlement agreement for your business, you need Tressler & Associates. Our experienced corporate law attorney will help carefully draft the document so that you can put the issue to rest and move forward.

How Do Settlement Agreements Work?

A settlement agreement is a legally binding contract, which is why you need the help of a corporate law attorney. In a settlement agreement, two or more parties resolve their dispute by coming to an agreement reached through mediation. This is often used to avoid the dispute going to trial. There are many reasons a dispute can occur that require a settlement agreement, such as an employee believing their contract was breached.

While the parties involved must agree to the terms, a judge must also approve the settlement agreement. Following the judge’s approval, all parties are legally bound to the terms and conditions they agreed to.

Settlement agreements can be beneficial for all parties involved. Through mediation and negotiation, the employee or partner can achieve the terms they wanted to settle their issues with the company. Businesses can use settlement agreements to help resolve disputes faster without going through litigation or worrying about future lawsuits against them. As both parties can reach an outcome that works in their favor, this is often the best way to reach an outcome.

What Does a Settlement Agreement Need?

Settlement agreements need to contain several terms before they are valid. A settlement agreement must be in writing and contain the following terms:

  • An offer one party is responsible for completing.
  • An acceptance from the other party.
  • Proof that both parties took careful consideration and that there was no coercion.
  • A mutual agreement between the parties with no coercion.
  • A legal purpose.

To ensure that your settlement agreement is created properly and contains the terms it needs to be valid, you need a corporate law attorney. Tressler & Associates can help you throughout this process to reach a much-needed resolution.

Contact a Tennessee Corporate Law Attorney Today for Assistance

While you can’t avoid disputes, you can ensure you’re doing all you can to settle them quickly and in a way that works for both parties. At Tressler & Associates, we know how important it is for businesses to ensure these issues are handled carefully to protect their best interests. Handling this yourself only creates avoidable risks. Our team can help you settle disputes so that you can focus on your business’s other needs.

Contact our Tennessee corporate law attorney today for help with settlement agreements and any other contract you may need.

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