This form is a Settlement Agreement usable in cases where licensing, patents, or commercial trade secrets are a factor.
Massachusetts Settlement Agreement
State:
Multi-State
Control #:
US-TS10045
Format:
Word;
PDF;
Rich Text
Instant download
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How to fill out Settlement Agreement?
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FAQ
The Master Settlement Agreement (MSA) imposes major restrictions on tobacco company marketing practices and prohibits advertising aimed at youth. The MSA restricts the participating tobacco companies in the following ways: Prohibits direct or indirect targeting of youth in advertising, marketing and promotions.
1. An agreement that ends a dispute and results in the voluntary dismissal of any related litigation. Regardless of the exact terms, parties often choose to keep their settlement agreements private. 2. In business law, the payment, satisfaction, and closing of an account.
With the MSA, states obtained a 25-year payout of hundreds of billions of dollars from ?Big Tobacco.? In addition, the tobacco industry was forced to make other concessions regarding how cigarette advertising and other products were targeted at youths, meant to decrease smoking nationwide.
To be enforceable under Code of Civil Procedure §664.6, the material terms of the settlement must be explicitly defined in the agreement. A settlement agreement, like any other contract, is unenforceable if the parties fail to agree on a material term or if a material term is not reasonably certain.
The agreement should set forth what money is being paid for, i.e., the type of damages, as well as the claims it is being paid on. If some damages are taxable and some are not, the settlement agreement should set out, in as much detail as possible, the proportions and rationale.
A settlement agreement works by the parties coming to terms on a resolution of the case. The parties agree on exactly what the outcome is going to be. They put the agreement in writing, and both parties sign it. Then, the settlement agreement has the same effect as though the jury decided the case with that outcome.
The tobacco companies also agreed to finance a $1.5 billion anti-smoking campaign, open previously secret industry documents, and disband industry trade groups which Attorneys General maintain conspired to conceal damaging research from the public.
Prohibits targeting youth in advertising, promotions, or marketing. Bans industry actions aimed at initiating, maintaining or increasing youth smoking.