Statutory Offer Of Settlement Legal Meaning and Definition

Here is a simplified definition of the legal term Statutory Offer Of Settlement.

Statutory Offer of Settlement (noun): A legal action where the defendant proposes a resolution to the plaintiff, often in the form of monetary compensation, in order to settle a claim and end the lawsuit. It is a written offer that must be submitted to the court, and if accepted by the plaintiff, all of their claims are considered resolved.