You are working with Redwood and Associates. You represent Pam Greer in a person

Question

You are working with Redwood and Associates. You represent Pam Greer in a personal injury claim. Ms. Greer was injured in an automobile accident with a truck driven by Neil Armstrong. Ms. Greer received serious injuries including a contusion, broken ribs, and a fractured arm. Ms. Greer was hospitalized for 12 days. Your supervising attorney has sued Mr. Armstrong for $300,000, which includes collateral expenses and pain and suffering.

Common Farm Insurance insured Mr. Armstrong’s truck. After Mr. Redwood submitted the demand for $300,000, Common Farm returned with an offer of $200,000. Both parties negotiated a settlement with a final offer of $250,000. Mr. Redwood discussed the settlement with Ms. Greer and she was elated. This offer was more than she expected; however, Ms. Greer asked for a few days to carefully analyze the offer. The day after speaking with Mr. Redwood, Ms. Greer decided to play the New York lottery. The numbers were drawn and Ms. Greer was holding a $1,000,000 winning ticket. Ms. Greer no longer had a need for the $250,000 offered by Common Farm Insurance. Ms. Greer called you very happy and told you about her big win.

Your supervising attorney has asked you to draft a letter for his review. This letter will be sent to Ms. Greer about the conversation you about her not having a need for the $250,000 settlement. You will also discuss negotiation strategy with Ms. Greer.

The letter should:

Discuss timing as it relates to executing the negotiation.

Explain strategy and discuss whether Ms. Greer would like to renegotiate with Common Farm Insurance. Describe Ms. Greer’s role in each negotiation strategy.

Explanation / Answer

Dear Ms Greer,

This letter is to summarise our conversation related to the agreed settlement offer negotiated with reference to your personal injury claim filed against Mr Neil Armstrong. As has been informed to you a final offer of $250,000 has been negotiated, with final acceptance of the offer being pending from our side awaiting confirmation from you.

During our previous conversation you have informed me about your winning a dollar 1 million lottery. Due to this your dependence upon the settlement claim has been nullified, leading to change in your opinion as regards the amount of claim to be negotiated. Given the change in circumstances, I would like to avail your express permission for either acceptance of the finalized amount as already negotiated, or to reinitiate negotiation for availing acceptance of an amount which you deem suitable, in the light of the change in circumstances. It is essential that this information not be disclosed, as it could have detrimental impact on the amount of claim perceived by the defendant as just, given your financial situation having changed. Timing can be very crucial in this situation therefore, it is essential that we make an immediate decision on the amount to be renegotiated or acceptance of the finalized amount.

The swift finalisation and settlement of the claim can greatly reduce associated costs and ensure minimal risk from associated modification due to change of mind by the involved parties, in view of the changed facts of the case. It is in our best interests to exhibit brevity alomgwith speed in settelement of the claim.

It is aur advice that the final amount be decided upon and the claim finalized and settled, the matter closed at the earliest for mutual benefit of all concerned. Kindly communicate your decision on the matter along with clarity on the amount of settlement which would be considered just and equitable by yourself.

Yours sincerely,

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