What is a "settlement" in legal disputes?

A "settlement" in legal disputes refers to an agreement reached between parties to resolve their conflict without proceeding to a trial. This process allows both parties to negotiate terms that are mutually acceptable, often involving concessions from both sides. Settlements can lead to a quicker resolution, saving time and resources that would otherwise be spent on lengthy court proceedings.

Settlements are particularly common in civil cases and can occur at any stage of the litigation process, often before a trial has even begun or after a trial has started but before a verdict is reached. They provide certainty for both parties, allowing them to avoid the unpredictability of a jury decision and the legal complexities of a trial.

The other options do not accurately describe a settlement. A formal trial by jury pertains to the judicial process of determining a case, a request for a new trial relates to seeking a review based on new evidence, and a document filed to begin legal proceedings refers to the initiation of a lawsuit rather than a resolution. Each of these options highlights a different aspect of the legal process, but none encapsulates the essence of a settlement as an avenue for conflict resolution outside of court.