high-low agreement
- It's a type of settlement in a lawsuit that relies on the amount awarded by the jury. The agreement establishes a lower limit the defendant must pay if the jury's award is less than this value, and a higher limit that caps the money the defendant has to pay if the award surpasses this value
- In the recent lawsuit, both parties agreed on a high-low agreement, ensuring that the plaintiff would receive a least a minimum amount.
- Using a high-low agreement can eliminate uncertainty by setting a range for the possible financial outcome of a case.
- Upon realizing the potential risk of an extremely high jury award, they decided to opt for a high-low agreement to cap the maximum payout.
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