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However, the most suitable relief for a breach of a settlement agreement would be specific performance as well as damages where a patrimonial loss has been suffered. Additionally, where a settlement agreement has been made an order of court, the breaching party can be held in contempt of court.
Although the law presumes that settlement agreements are valid, they generally are subject to contract defenses, including mistake, unconscionability, duress, undue influence, and fraud.
By talking to the plaintiff you might be able to agree to 'terms of settlement' or a 'settlement agreement'. Your agreement should include ?the amount that you will pay to the plaintiff and how it will be paid if the claim is about money. Your agreement should also deal with the payment of legal costs.
Yes, once all the necessary written concurrences are obtained, a settlement agreement is binding on both parties.
The aggrieved party can only hope to set aside a settlement agreement by bringing a civil claim to the Labour Court or High Court based on the common law grounds such as the impossibility of performance, fraud, duress and/or misrepresentation.
If you and the opposing party in a suit reach a settlement agreement in good faith, there is likely very little you can do to get out of the deal. However, if either party (or even your attorney) somehow induced you to agree to the settlement through fraud or misrepresentation, you may be able to void the agreement.
If you can prove that a settlement is flawed, you can have it overturned. If a settlement agreement is signed under duress or deception, it might not be legal. A settlement agreement may also be revoked due to a mistake made by both parties or a false statement made by the other party.