Description: A judicial settlement is an understanding reached between the parties involved in a legal dispute, which is approved and ratified by a court. This type of settlement seeks to resolve conflicts without the need for a full trial, which can save time and resources for both the parties and the judicial system. Judicial settlements are binding and have the force of law, meaning that the parties are obligated to comply with the terms set forth in it. Generally, these settlements are used in a variety of legal contexts, including civil, family, and commercial disputes. The formalization of a judicial settlement involves the court reviewing the terms to ensure they are fair and reasonable, thus protecting the rights of all parties involved. Additionally, judicial settlements may include specific clauses detailing each party’s obligations, as well as the consequences in case of non-compliance. This mechanism not only promotes the peaceful resolution of conflicts but also contributes to the efficiency of the judicial system by reducing the burden of cases that must be litigated in court.
