In this article, you will discover:
- The key differences between a settlement and a trial verdict.
- The benefits of a settlement over a potential trial verdict.
- The risks of going to trial and how an attorney can help you weigh those risks.
What Are Some Key Differences Between Settlements And Trial Verdicts?
A settlement is an amicable resolution you make informally with the defendant to pay you a certain amount of money. You then agree to dismiss your case against them.
A trial verdict occurs when you go through an entire trial, and the jury or the judge then decides whether you’re entitled to damages in the case for your injuries and, if so, how much damages you are entitled to.
The settlement is an informal resolution process, whereas a trial verdict is a very formal resolution process.
What Are The Benefits Of Settling Out Of Court?
The primary benefit is a much quicker resolution. You’ll get compensation for your injuries much faster than you would if you had to go through a trial, and possibly appeals, which can take years. Usually, once you reach a settlement agreement, you’re paid the agreed-upon amount within 30 days of your signing the Release. Also, a settlement removes the risk of going to trial.
Often, clients will think they have a great case, and the jury’s going to award them a lot of money. But there is always a significant risk that the jury will find the defendant wasn’t negligent or won’t award the amount of damages the clients were expecting. When you settle, you take away that risk factor.
What Factors Should I Consider Before Accepting A Settlement?
Make sure that the amount you’re being offered is a fair amount for your injuries. You generally don’t get offered an amount commensurate with the amount you would get if you went through a trial and got a jury verdict. However, you’re avoiding all the costs and risks of going to trial. You are usually offered a little bit less to settle, but it still has to be an amount that you can live with and that you and your attorney agree is fair and reasonable.
What Are The Risks Of Going To Trial In Jefferson Parish And / Or Louisiana As A Whole?
Going to trial is a little bit like playing the lottery or gambling. There’s always a chance you’re going to end up with zero recovery at a trial, even if you feel like you have a strong case. Juries and judges are unpredictable. Just because you feel like you have a good case doesn’t mean that the jury or judge will agree with you.
Going to trial is also extremely expensive in Louisiana. Sometimes, you have to pay experts to testify at trial, which can cost tens of thousands of dollars. You will also have court costs and other unforeseen costs associated with putting on a trial, and those costs will generally come out of your recovery.
Even if you get a little bit more money from a jury than you are offered in settlement, sometimes your net amount will be less after trial because of all the expenses deducted from your recovery.
Can I Appeal A Trial Verdict If I’m Not Satisfied?
Yes. There are two layers of appeals you can take in Louisiana after trial. We have two appellate courts in Louisiana. We have the Court of Appeal, where your district court is located, and then above that is the Louisiana Supreme Court. If your appeal with the Court of Appeal is unsuccessful, you can then appeal to the Supreme Court.
What’s The Most Common Misconception Clients Have About Settlement Offers?
Frequently, clients will be averse to a settlement offer because the offer is generally less than they could get at trial with a very successful jury verdict. However, there’s a lot of risk with going to trial.
Sometimes it’s better to take a fair settlement offer now and avoid the risks, costs and hardship of going to trial to try to get some sort of large judgment amount.
Can You Describe A Case Where A Client Initially Wanted To Settle But Later Chose To Go To Trial?
I had a major auto accident case where a client was very severely injured in an accident with a FedEx truck at an intersection. There was a settlement offer made, but it wasn’t an amount that we felt was even remotely fair.
The client and I decided to go to trial. That ended up being a good decision because he got a substantial verdict at trial. The decision was a lot easier because we never received what we thought was an actual fair settlement offer.
Sometimes, you won’t get any settlement offer before trial, which makes going to trial easier. If you don’t get a fair offer, then it’s always better to go to trial and take your chances.
You should never just take any little bit of money that a defendant will throw at you to go away. It’s got to be a fair offer in line with other similar cases, which we call “quantum” in Louisiana. In other words, you should always look at amounts similar plaintiffs have received for similar injuries in previous cases. Your settlement offer should always align with that. If you don’t get what you feel is a fair settlement offer, then you need to go to trial and take your chances.
Still Have Questions? Ready To Get Started?
For more information on Understanding Settlement Offers Vs. Trial Outcomes In Jefferson Parish, a free initial consultation is your next best step. Get the information and legal answers you are seeking by calling (504) 581-6411 today.