Out-of-court settlement

For other uses of settlement, including legal uses, see Settlement. In law there are several main meanings of the word settlement. The most common meaning refers to when the parties to a dispute (both disputes that are being litigated before the courts, and disputes where court action has not been started) reach an agreement as to the case, which is said to 'settle' the claim.
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Noun
1. resolution of a dispute prior to the rendering of a final decision by the trial court
(hypernym) settlement

An agreement between two litigants to settle a matter privately before the Court has rendered its decision. - (read more on Out-of-court settlement)