Common Contracts
1 similar null contracts
DRAFTING AN EFFECTIVE, ENFORCEABLE “HIGH LOW” AGREEMENTJanuary 17th, 2011
There are few “certainties” in litigation, particularly if a case includes an open-ended claim involving “pain and suffering” or fiduciary breaches. If the claim makes it to the jury, an award may depend on factors over which the client and counsel have limited control, such as third party witnesses, a plaintiff’s medical history or a “smoking gun” produced in discovery. While recognizing that anything can happen in litigation, both plaintiff and defense lawyers can estimate a reasonable range of recovery. But, instead of making settlement decisions based on the estimated range, clients sometime consider the “best” or “worst” case scenario. Fear of a runaway jury can motivate a defendant to pay more than the estimated range, while concern over a motion to strike can convince a plaintiff to accept less than the range. High-low agreements give the parties their day in court without risking the extremes. But an effective high-low involves planning. Litigation is unlikely to end with a jur
