What is the difference between a verdict and a settlement?

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When an individual is injured, they may seek compensation for their damages by filing a claim against any liable party. This means they can either pursue a verdict or settlement to recover damages. If you or someone you care about has been injured due to another person’s negligence, contact an experienced St. Petersburg, Florida Personal Injury Lawyer who can help you recover damages for your injuries. 

What separates a verdict from a settlement?

What is a verdict? 

A verdict is a judgment or decision that is made by a jury in a court proceeding. A judge or jury issues a verdict after a trial has concluded. Once both sides have presented their closing arguments, the jury will deliberate after hearing all the testimonies and seeing all the evidence. Once they have reached a decision, they will deliver the verdict. The verdict is the final decision of the case.

What is a settlement?

However, a settlement is a contractual agreement made between two disputing parties. Typically, a settlement is reached before a case goes to trial and does not involve outside input or a decision from a judge or jury. If both parties cannot reach a mutual agreement on a settlement, you might file a lawsuit where a judge and jury will then decide the case resulting in a verdict. Additionally, if your case does end up in court, you may settle the trial.

The main difference between a verdict and a settlement is that one involves a jury trial and the other relies on both parties reaching an agreement outside of court.

What types of damages may be included in a verdict or a settlement?

When an individual is injured due to another person’s negligence, it is normal for a victim to seek damages as this injury could have caused them to lose their job or receive expensive medical bills. Generally, damages awarded in verdicts and settlements can fall into either economic or non-economic. Economic damages are factors that can be calculated. Non-economic damages affect your life in a way that is not easy to put a dollar value on. Some examples of economic and non-economic damages include:

Economic damages

  • Medical bills (any future medical expenses if applicable)
  • Reduced earning capacity
  • Lost wages
  • Property damage
  • Cost of household services
  • Costs for change of plans

Non-Economic damages

  • Emotional distress
  • Disability or incapacitation
  • Physical impairment
  • Pain and suffering
  • Inconvenience
  • Loss of society and companionship
  • Loss of consortium
  • Loss of enjoyment of life

If you or a loved one has been injured due to another person’s negligence, you may be able to seek damages through a verdict or a settlement. Don’t hesitate to contact one of our skilled attorneys who can help you get back on your feet after a serious injury.

Contact our experienced St. Petersburg firm

If you or someone you know was injured in an accident and wishes to schedule a consultation, please do not hesitate to contact Attorney Schmitt of the Youngblood Law Firm today.