As a copy editor, one of the key aspects of my work is to ensure that the content I work on is optimized for search engines. This involves understanding how people search for information and using targeted keywords and phrases to make sure that the content appears prominently in search results. In this article, I`ll be focusing on the Mary Carter Agreement, a legal term that relates to personal injury cases in New Jersey.
What is a Mary Carter Agreement?
A Mary Carter Agreement is a type of settlement agreement that is commonly used in personal injury cases in New Jersey. This agreement is named after a 1967 Florida case in which two defendants in a car accident case reached an agreement whereby one defendant would settle with the plaintiff and the other defendant would remain in the case but would pay a reduced amount if the plaintiff won. The name “Mary Carter” comes from the fact that one of the defendants in the Florida case was named Mary Carter.
In a Mary Carter Agreement, one defendant agrees to settle with the plaintiff, but also agrees to remain in the case as a defendant, with the understanding that they will pay a reduced amount if the plaintiff wins. This type of agreement is often used when there are multiple defendants in a case and one defendant is willing to provide information or testimony against the other defendants in exchange for a reduced liability.
Why are Mary Carter Agreements used?
Mary Carter Agreements can be beneficial for both plaintiffs and defendants in personal injury cases. For plaintiffs, these agreements can provide a guaranteed settlement amount, even if they don`t win the case outright. For defendants, Mary Carter Agreements can reduce their overall liability, as they will only have to pay a reduced amount if the plaintiff wins.
In addition, Mary Carter Agreements can be useful in cases where there is uncertainty about the liability of one or more defendants. By offering a reduced settlement amount, one defendant may be able to persuade the plaintiff to settle rather than pursue the case further, which can save all parties time and money.
How do Mary Carter Agreements affect personal injury cases in New Jersey?
Mary Carter Agreements are legal in New Jersey, but they are subject to certain restrictions. For example, New Jersey courts require that any Mary Carter Agreement be disclosed to all parties involved in the case. In addition, New Jersey has specific requirements for how the agreement must be structured and executed.
One important consideration for plaintiffs in New Jersey is that any settlement they receive through a Mary Carter Agreement must be disclosed to any other defendants in the case. This means that if a plaintiff settles with one defendant but continues to pursue the case against other defendants, those defendants will be aware of the settlement amount.
The Mary Carter Agreement is a type of settlement agreement that is commonly used in personal injury cases in New Jersey. This agreement allows one defendant to settle with the plaintiff while remaining in the case as a defendant, with the understanding that they will pay a reduced amount if the plaintiff wins. Mary Carter Agreements can be beneficial for both plaintiffs and defendants, as they provide a guaranteed settlement amount and can reduce liability. However, they are subject to certain restrictions and must be disclosed to all parties involved in the case.