Important Details About A Lump Sum Settlement
Are you currently engaged in a lawsuit? Are you wondering whether you can get lump sum settlement? The settlement money is a compensation for injury or a part of larger sum such as alimony in a divorce case. Read the article below and learn more about lawsuit settlements.
A lump sum settlement is a large and fixed amount of money, usually given as a payment for compensation in a recently decided legal proceeding. Depending on the nature of the lawsuit, the settlement money is a compensation for injury or a part of larger money such as alimony in a divorce case.
Before settlement money is received, there should be an ongoing lawsuit against someone or a company. For example, if you have been a victim of physical injury or harassment resulting in mental and emotional turbulence such as the peace of mind is lost chronically, then you can file a lawsuit against the perpetrator.
Physical injuries occur very common at the place of work like in construction sites, warehouse, industrial plants, chemical and biohazards laboratory, factory, food processing plants, and fruit and vegetable plantations where chemicals such as fertilizers and pesticides are often used.
In such situations, the workers are consistently and regularly exposed to various harmful chemicals and hazards that have long-term effects on their physical and health condition. Thence, many of these workers file a lawsuit, either collectively or individually, against their employers. And if the court issues a favorable verdict, lump sum settlement is among the penalty imposed upon the guilty party.
Nonetheless, even in normal office setup, injury may still happen such as a bad fall. Falls are not exclusively prevalent in construction sites, although falls are very common in there. Accidents are caused in major part by negligence, and minor part by unexpected incidence. And they can happen at any place such as malls, theatres, hotels, opera house, stadiums, and more.
Regardless of the location, however, it is the responsibility of the employer/owner to put emphasis on the well-being of his employees or clients. So, they are accountable for whatever mishap an employee or customer has encountered from a particular office or site, commercial or otherwise.
Residences too can be a place for physical accidents and falls are not the only part of it. Chemical burns, animal bites, and any other accidents that may cause chronic or permanent injury or phobia can be a cause for a lawsuit and thus for lump sum settlement.
Pharmaceuticals, beauty product manufacturers, and professional practitioners are among the famous respondent in a lawsuit. Patients or individuals who after availing certain medicines, health supplements such as multi-vitamins, weight loss pills, have experienced injury or permanent damage or serious complications are encouraged to file a lawsuit against the pharmaceutical company.
The same thing is said of beauty product manufacturers. There might be an ingredient or two -- whether declared or not on the label -- included in the beauty products that can have adverse side-effects to the host. These effects can have a wide range consequence like chronic skin or organ damage.
Among the private professionals, the medical practitioners are among the sources of lump sum settlement in a lawsuit. Surgeons, dermatologists, cardiologist, nurses, and physicians may have committed an error while performing their duty, or failed to do something that could have otherwise resulted in a favorable situation can be brought before a legal court.
Architects and engineers, public accountants, lawyers are not exempted from lump sum settlement should they be proven to be guilty of breaching the laws of the land, ordinances of the locality, trust, or contracts.
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