Although the declaratory judgment is generally a statutory remedy, it resembles remedies historically associated with equity. 1 As a result, the declaratory judgment has sometimes been described as a form of equitable relief.
Instead of waiting for a disagreement to turn into litigation, one of the parties could file for a declaratory judgment. The court would then interpret the contract and define the rights of both parties, offering a legal resolution without the need for a traditional lawsuit.
Declaratory judgments are conclusive and legally binding, but do not have preclusive effect if: A later lawsuit involves issues other than those specifically litigated and ruled on in the declaratory judgment action.
A plaintiff could ask a judge to make a declaratory judgment about almost anything, including interpreting an unclear clause in a contract, determining the rights of the insured under an insurance policy, determining who is a beneficiary under a last will and testament, or even deciding who is the rightful owner of ...
The benefit of a declaratory judgment is that it prevents lawsuits that are likely to be unsuccessful, which saves the courts, and ultimately taxpayers, resources and time. A policyholder that receives an unfavorable declaratory judgment is unlikely to file a lawsuit, as the suit is much more likely to be dismissed.
Declaratory judgments have the same effect and force as final judgments and are legally binding.
A declaratory judgment is typically requested when a party is threatened with a lawsuit but the lawsuit has not yet been filed; or when a party or parties believe that their rights under law and/or contract might conflict; or as part of a counterclaim to prevent further lawsuits from the same plaintiff (for example, ...
Steps in Seeking a Declaratory Judgment Review the facts of the case. Research and obtain additional evidence and title information from the client or the Missouri Department of Revenue. File a petition asking the appropriate court for a declaratory judgment.
Steps in Seeking a Declaratory Judgment Review the facts of the case. Research and obtain additional evidence and title information from the client or the Missouri Department of Revenue. File a petition asking the appropriate court for a declaratory judgment.