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Question 1

Settlement agreements are:

Question 2

Frick and Frack are brothers who are constantly getting into fights. As they get older, the fights tend to be over more and more important stuff. Recently, Frick was over at Frack's house and inadvertently dropped one of Frack's prize bricks on his own foot. The fight has escalated to the point where each is now represented by an attorney and Frick is threatening to sue. Wishing to avoid a lawsuit, Frack instructs his attorney to offer Frick $15 if Frick promises not to sue. Frack's attorney is hesitant, and wonders if the settlement agreement that would be drawn up, should Frick agree (ha! Never!) would be binding. Is he right to worry?

Question 3

Which of the following is NOT a traditional defense to contract which is applicable to settlement agreements?

Question 4

The requirements for entering into a valid settlement agreement are a matter of: