high-low agreement

Definition of "high-low agreement"
  1. 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
How to use "high-low agreement" in a sentence
  1. In the recent lawsuit, both parties agreed on a high-low agreement, ensuring that the plaintiff would receive a least a minimum amount.
  2. Using a high-low agreement can eliminate uncertainty by setting a range for the possible financial outcome of a case.
  3. 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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