This form is a Settlement Agreement usable in cases where licensing, patents, or commercial trade secrets are a factor.
Wyoming Settlement Agreement
State:
Multi-State
Control #:
US-TS10045
Format:
Word;
PDF;
Rich Text
Instant download
Description
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How to fill out Settlement Agreement?
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FAQ
In Wyoming, an equal division of assets -? with 50 percent to one party and 50 percent to the other ?- is not the goal. This is not a community property state. Instead, an equitable division will be sought. Generally speaking, this just means that the judge has to decide that the division is fair.
If you have the grounds to file for a divorce, you may choose instead to file for a legal separation. This is done by filing a complaint in the same manner as for a divorce but asking to be allowed to live separately from your spouse rather than to be divorced.
What Should Be Included in a Settlement Agreement? Identifying information for all involved parties. A description of the issue you're seeking to settle. An offer of resolutions that both parties agree to. Proof of valid consideration from both parties without coercion or duress. Legal purpose.
The consideration is the monetary amount of the settlement and anything else either party agrees to. In essence, the consideration is what will end the dispute.
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.