Legal Question in Credit and Debt Law in New York

A STIPULATION OF DISCONTINUANCE is an agreement by two or more parties to resolve a lawsuit by agreeing to 'Discontinue' the lawsuit. 'Discontinue' is Lawyer-speak for 'End' and 'Stipulation' is just lawyer-speak for the word 'Agreement'. If a Stipulation of Discontinuance is signed by the parties AND filed with the court where legal action is currently pending, it effectively ends the litigation (lawsuit) between thos parties.

A Stipulation of Discontinuance is nearly always based on the parties having previously executed (signing) a settlement agreement which may or may not be filed together with the Stipulation of Discontinuance.

A 'Stipulation' is commonly referred to as a 'Stip' and is used as both a verb ("Let's Stip it") and a noun ("Sign the Stip").

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