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It is basically an order or judgment based on a settlement or agreement of parties. In practice, normally, a consent judgment is entered after a successful mediation. The Judge or the Court does not decide on the case and its role is merely to record the terms that have been agreed by parties.
A consent judgment is a final decision and can, in an appropriate case, sustain a plea of res judicata. Consent judgment remains binding until set aside by a fresh action or an appellate court, if it can be established to have been obtained by fraud, misrepresentation, duress or mutual mistake of parties.
If parties agree to resolve the case with a settlement agreement, you must ensure that it is legally binding. Consent decrees are court orders, so you will have legal recourse if someone does not abide by the judgment. You will have fewer steps to take if a party does not follow the order approved by the judge.
A consent judgment (also known as a consent decree or a consent order) is a judgment made by a judge with the consent of all the parties. It is not strictly a judgment, but rather a settlement agreement approved by the court.
A consent judgment is a final decision and can, in an appropriate case, sustain a plea of res judicata. Consent judgment remains binding until set aside by a fresh action or an appellate court, if it can be established to have been obtained by fraud, misrepresentation, duress or mutual mistake of parties.