Suit Versus Settlement When Parties Seek Nonmonetary Judgements
AbstractThis article considers situations in which plaintiffs seek nonmonetary judgments, for instance, custody of a child or an injunction. The primary questions of interest concern when parties will be likely to settle and, if so, what the nature of their settlements will be. The answers to these questions are different from what they are when plaintiffs seek purely monetary awards. In that case settlements involve only money payments whereas here they involve as well disposition of the nonmonetary things sought (who obtains custody of a child). Also, as is well known, when plaintiffs seek monetary judgments the parties will be inclined to settle to save litigation costs and reduce risk if they agree about the likelihood of plaintiff success at trial, but here that is not necessarily true. (For example, custody of a child may well be considered vital by each parent, making each unwilling to relinquish the chance of securing custody through trial for any amount in the range of what the other could pay.)
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 4012.
Date of creation: Mar 1992
Date of revision:
Publication status: published as Journal of Legal Studies, January 1993, Vol. 22, No. 1, 1-13.
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Other versions of this item:
- Shavell, Steven, 1993. "Suit versus Settlement when Parties Seek Nonmonetary Judgments," The Journal of Legal Studies, University of Chicago Press, University of Chicago Press, vol. 22(1), pages 1-13, January.
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