Appeals Court Backs High-Low Agreement
Posted May 7, 2007 7:58 AM CDT
By Debra Cassens Weiss
A New York appeals court says agreements between parties before a trial to restrict the size of the verdict should be enforced.
The plaintiff in the case, who was suing for damages caused by an auto accident, had agreed before trial to accept no less than $75,000 and no more than $325,000, no matter what the verdict. Jurors awarded $400,000.
New York’s Appellate Division, 2nd Department, ruled the high-low agreement should be treated as a settlement, according to the New York Law Journal.