Compromise Meaning Legal Context & Example Legal Terms Simplified @LawMint
Автор: LawMint
Загружено: 2025-03-13
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Compromise
Compromise means to settle differences by mutual concessions.
In a legal context, "compromise" refers to an agreement to settle a dispute outside of full court proceedings, often involving mutual concessions by parties to avoid a lengthy trial.
It is legally significant because it provides an efficient and amicable way to resolve conflicts, and a valid compromise agreement is generally binding and enforceable in court.
For example, two neighbours in a property dispute – may realise that taking the dispute to court may lead to significant legal expenses – and may reach a compromise by mutually agreeing on a shared boundary line. Once they reach a compromise, they can document their terms and decisions in the form of a legally enforceable agreement.
Meaning Legal Context & Example Legal Terms Simplified @lawmint
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