Common Contracts
1 similar null contracts
High/Low Agreements: An Effective Settlement Vehicle and a Potential Trap for the UnwaryAugust 1st, 2020
A high/low agreement is “a settlement in which a defendant agrees to pay the plaintiff a minimum recovery in return for the plaintiff’s agreement to accept a maximum amount regardless of the outcome of the trial.” Black’s Law Dictionary, 8th ed. (2004). High/low agreements are commonly used in all manner of litigation. They are favored by courts, counsel, and litigants because they “assure plaintiffs of minimally-acceptable recoveries while protecting defendants against exorbitant verdicts.” Thompson v. T.J. Whipple Construction Co., 2009 WL 807467, *8 (Pa. Super. March 30, 2009).
