If one or more defendants are attributed the proximate or causal link to a tort claimant’s personal injury, the harm inflicted is not divided, and each bears liability for the entire damage. The doctrine of joint and several liabilities comes into play where the harm cannot be divided between or among the wrongdoers. The court cannot accurately apportion the harm while no intervening act exonerates any of the defendants. Indivisible harm impels a court to impose liability for concurrence negligence making co-defendants severally and jointly responsible. However, under the release rule, a defendant can get pardoned, but this does not discharge the others. A plaintiff pursuing several defendants can get the advantage of better off defendants to maximize compensation money.
Michael Mattie got struck by a sharp metallic object swung by his neighbor leading to a fractured arm. On being rushed to a nearby hospital, the physician dispatched to attend to him exacerbates his woes by negligently overlooking serious bone fractures which made him develop gangrene and subsequent amputation. The court found the neighbor liable for all injuries sustained and the doctor for the portion of negligence aggravating the condition. Michael scooped a lump sum annuity payable upfront while the balance fell under a structured settlement, which like lottery monetary awards sells like hot cakes. Rather than remain on tenterhooks waiting for each payment, Michael decided to cash in a portion or the whole of the structured settlements.
Sell Structured Settlement
Exercise of Due Diligence during the Post-Contractual Period-Doing Your Homework to Avoid Pitfalls
Michael knew the sale of structured settlement payments must abide by federal and state laws as well get judicial approval after browsing through online. When he sought free quotes from the buyers of annuities, he could tell unscrupulous factoring companies from a mile, especially those promising to skip the court process.
Court Hearing, Attendance Can Help Speed Up the Transaction
Once he had identified a renowned structured settlement purchasing company and endorsed a few documents, Michael prepared himself for the court hearing. His attendance rushed the purchase through court as he responded to material factual questions that helped the judge reach a proper finding. The judge may postpone the proceedings demanding the attendance of the payee further slowing down the process. Superior Court judges approve transactions if they prove to be in the best interest of the seller and dependents.
Michael sailed through as he demonstrated the ability to fend for himself without falling back to public assistance as he had opened an automobile spare parts store in Los Angeles. The effective discount and annual interest rates paired with transactional expenses had been scaled equitably and reasonably in the words of the judge.
How Do Judges Protect Unwary Sellers of Structured Settlements?
Despite the tenacity exhibited by Michael in pitching the validity of his deal in court, the judge could still deny the application. Michael needed to pay off a small loan plaguing his business in Los Angeles, acquiring a new robot arm and clear off a foreclosure. The judge scrutinizes the transfer agreement and disclosure statement lodged in court to see if the lump sum payment offered meets the test of fairness and reasonability in the marketplace. Usurious discount rates lead to dismissal of petitions by New York courts.
What’s the duration of a factoring transaction?
Michael’s transaction took approximately one and a half months to complete. To ensure you don’t get inordinately delayed, choose a first-class structured settlement buying company habituated with court filings across county jurisdictions. In some states, it may take more than six months to get a court hearing date.
Renowned Structured Settlement Funding Companies
Fairfield Funding deals with all manner of future cash flows such as structured settlements and annuities, gives instant free quotes and price offer online, and files an application in the county court of your residence.
Woodbridge Structured Funding comes in handy as a buyer of structured settlements for cash-strapped annuitants as they give cash advances and expedites your petition before the judge by filing all documents on time and serving insurers. They will give you an assistant or representative to provide guidance throughout the process.
Stone Street Capital leads the pack with competitively priced discounted lump sum value for a portion or whole of your income stream, rapid processing and minimum fees incurred in the transaction. The company will prepare a transfer agreement and a welter of documentation for filing in court in an instant.