Legal Question in Real Estate Law in Louisiana
after settlement of law suit
A law suit has been settled. Is there a time limit on paying the cash settlement to the person that was awarded?
1 Answer from Attorneys
Re: after settlement of law suit
This depends, and in essence, it depends on the settlement agreement itself.
Well drafted settlement agreements will include a required time for performance. When a person does not perform within the stipulated time, they will be in default of the agreement and you have some remedies available to you (including dissolving the settlement agreement or filing a motion with the court to "enforce" the settlement agreement).
If a timetable is not attached to performance under the agreement, it will be less clear whether the other party is in default.
The court will likely give the paying party a "reasonable" amount of time, but will not allow them to not pay forever.
In short, this is a case-by-case determination. Your settlement agreement may speak to the point, but if not, you should be consider whether they are taking an unreasonable amount of time to comply with the agreement.
Good luck