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Private Settlement between parties question

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Heyitsrick

Junior Member
What is the name of your state (only U.S. law)? NY

My wife was involved in a very minor fender bender today. Long story short, she and the other party agreed --witnessed by a police officer and after other party brought a mechanic/auto body person to assess damage-- that we would be responsible for $150 total for the cost of repairs, so as to avoid insurance claims. I haven't seen the actual agreement yet, but both signed copies to that effect. No money has been sent yet, as this just happened.

I want to make sure we are absolutely indemnified against future claims in case the verbiage of what my wife signed wasn't adequate. I'm thinking that something along the line of a "Full and Final Settlement of Debt" cover letter should accompany the check to the other party. I'm thinking of the standard "By your endorsement of this check, you agree...blah blah blah".

Am I on the right track, and can you specify the exact boilerplate language I should use on said cover letter (New York State law applies here)?

Thanks.
 


ecmst12

Senior Member
I would suggest you avoid legalese if you are not actually a lawyer. Use the examples but write it in plain language that you can understand easily. It doesn't have to be fancy. I would suggest you have them get it notarized just so there is a witness to the signing.
 

Heyitsrick

Junior Member
Thanks for the advice --I actually did consider the notary after I posted but glad you confirmed it.

And thanks for the Google release link.
 

ecmst12

Senior Member
Get them to sign the release BEFORE you send the check. If you don't have the signed copy, you're not protected.
 

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