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Once the settlement date has been decided, we calculate your settlement figure by taking the current capital element of the balance outstanding, adding the interest due up to the agreed settlement date, plus one month's additional interest (as outlined above).
Stamp duty shall be levied on the agreement based on the value of the property. A settlement agreement can also be challenged in a court of law, although it cannot be revoked except with a court decree. A settlement agreement can be challenged if it involves fraud or coercion, misrepresentation or improper execution.
fraud, deceit, duress, coercion, misrepresentation or overreaching. Or. the terms of the agreement are unfair or unreasonable to the challenging party under the circumstances.
Fraud. Nondisclosure as fraud. Duress. Illegality. Mistake. Undue influence.
In most cases, it doesn't matter that a settlement agreement wasn't signed by the person wanting to back out, as long as the other parties can prove there was some form of agreement to the settlement. Settlement agreements are often completely enforceable as oral contracts.
When you sign a settlement agreement, your employment is terminated. You'll typically receive a sum of money in return for losing your job and certain employment rights. If you refuse to sign, however, you may well face a disciplinary procedure or a redundancy situation.
The employer can withdraw the offer of the settlement agreement at any time before it has been signed by both parties. In reality, this rarely happens because the employer is usually keen to finalize the settlement agreement.
In the majority of cases, when a party tries to withdraw from an agreed-upon settlement, the court will have to make a final decision whether the agreement is enforceable or not. This means if you back out of a legitimate agreement, you can be subject to damages if the final judgment was not in your favor.
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