Based on the data provided by the Centers for Disease Control and Prevention, there are around one million injuries resulting from slip and falls in the country. Furthermore, 17,000 are killed in such cases. When one entity fails to fulfill their responsibilities causing slip and fall incidents, they are properly penalized for their lapse by law. Below is a discussion on the details of the slip and fall cases and their structured resolution.
Such claims are generally based on the tort of negligence. According to this, if a person is injured due to the negligence of another, the latter will have to compensate the victim for the damages suffered. Specifically, slip and fall cases are based on the premises of liability which makes the owner responsible for the preventable accidents.
In case the defendant does not want to go ahead with the case, they have the option of settling through negotiations. A large proportion of slip and fall cases and other cases involving negligence are settled. There is no specific timing for settlements. It could happen before filing a lawsuit, while it is pending, or before the verdict is announced. It is advisable to consult slip and fall attorneys in the event of a slip and fall injury.
Structured settlements are not those which are arrived by paying a huge sum of money. Instead, they are completed through compensations provided in regular intervals over a period of time. They are usually paid off in regular gaps such as monthly or quarterly payment. Such settlements could result from a negotiated settlement where the defendant feels that the structured payments could provide higher than a lump sum. In other instances, the structured settlements are made after a court order.
Occasionally it becomes difficult to understand the better option out of the two— a structured settlement or a lump sum. This needs the victim to consider the future value of the money compared to that particular point of time. Economists would be able to have a better opinion regarding this by considering factors like cost of living and inflation.
The parties have the freedom to choose the type of legal agreement regarding the settlement. Victims should make sure that they take into consideration all the monetary impacts their case will have. It is recommended to take the help of an attorney in the event of a slip and fall accident.