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 Posted: Tue Oct 13, 2009 3:44 pm Post subject: Dollar Amount on Release |
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| Hi Everyone, Would the dollar amount referenced in the first paragraph of what looks to be the generic Release saying, "For sole consideration of $xxxxx" be the amount the insurance company agreed to make check for for the Release and pay me? Right before I sign, there is a single sentence that says "Undersigned hereby accepts draft or drafts as final payment of the consideration set forth above." The release looks to include all claims of both "injuries and damage" by "a full and final compromise adjustment and settlement of any and all claims...". |
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truelife
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| Posted: Tue Oct 13, 2009 5:32 pm Post subject: |
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Usually a release of a release of All Claims. If so, it really should include all amounts paid and payable. Sometimes a release is for bodily injury or property damage only. If so, it applies to all paid and payable amounts just for that portion of the loss.
I'm guessing that the amount listed on the release is not _just_ the amount payable to you (or at least is should not be). It is the entire amount that the insurance company is going to pay. If the need to pay medical providers directly, it will come out of that amount. |
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tcope
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| Posted: Tue Oct 13, 2009 5:59 pm Post subject: |
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| Okay, that makes sense based off what seems to be going on. Thanks for the quick reply! |
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truelife
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