settlement(redirected from Towns and Villages)
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Etymology: AS, setlan, to put in place
(in law) an agreement made between parties to a suit before a judgment is rendered by a court.
1. In health insurance, payment to the policyholder for claims made against the insurance company.
2. In liability or malpractice litigation, an agreement between disputants that satisfies the needs of both parties.
The purchase—at a discount—of a life insurance policy from a gravely ill patient. The buyer becomes the beneficiary of the policy; the viator receives a lump sum payment before dying.
legal term for a claim for damages resolved out of court by the defendant by making a settlement.