27 Nov 2020

A Final Agreement Meaning

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In two recent decisions1, the Tribunal stressed its readiness to rely on the « complete and final » text of a substantive settlement agreement, with each case giving a different result. « The general rule is that n.A. words should receive their natural and ordinary meaning, but this must yield to the common sense of economics if a detailed semantic and syntactic analysis… leading to a conclusion that would undermine the common sense of the company. 7 In order to settle this matter amicably, I offer you the sum of [amount] (including interest and fees) as a full and final account of the [debt/debt] mentioned above. As a plaintiff/creditor, you must react very carefully to a complete and final agreement. With respect to a debt, you must assess the creditworthiness of the debtor before accepting the full and final payment or payment by the debtor. In the case of a claim, you should evaluate the merit of your case and the possibility that you will win in court/arbitration before making a full and final settlement of all claims, regardless of the type or nature of the case. The term « complete and final settlement » is a term often used in transaction agreements to resolve all disputes, and parties must not have other claims against each other. « This agreement is entered into in full and final compensation for all claims, actions, liabilities, expenses or claims that the claimants have or may have against the defendants or [designated third parties], whether they are known or considered at the time of this transaction agreement or that result from or related to this transaction agreement in any way… The procedure… or with transactions between the parties on loans to defendants or investments in defendants…

or anyone who just has to do it. Admittedly, it was recognized that the broad wording used in the transaction agreement « showed a clear intention of the parties to seize all possible claims… whether any of them were aware of it or not » and that these words « were chosen as a means of ensuring that Mr. Siddiqi would never have to fear another allegation by Mr. Kazeminy regarding the technology in question », it was said that it was clear that the parties never turned to the rights of third parties like Mr. Grano and never intended to agree with them. An agreement is an expression of mutual agreement between two or more people. In addition to resolving disputes in civil proceedings, transaction agreements are often used in the employment context to resolve workers` claims against employers. A worker or worker may agree to waive severance pay in court or the labour court or not to bring an action against an employer. In the context of debt, debtors sometimes attempt to settle debts of less than their totality by « full and final resolution. » « Debtor » means anyone who owes money and « creditor » any person who owes the money.

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