A verdict is when you go to trial, and the judge and the jury make a decision on the case and that’s your verdict. You then ultimately get it made into a judgment. A judgment will be binding on both sides unless there is an appeal.
A settlement is where the two parties come to an agreement to resolve the issues of the case and an appeal is not available after the fact.
One benefit of a settlement is that you do get closure, whereas with a judgment, you can appeal within a certain time frame.
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