In any commercial dispute, there are many vital decisions that you’ll need to make. You may have to decide whether to file suit, whether to offer a settlement, whether to accept an opponent’s settlement offer, or whether to take your case to trial. All of these decisions carry with them significant implications; some may even involve your paying your opponent’s attorneys’ fees if you choose incorrectly. With all that is on the line, it is essential to make sure that you have an experienced Florida commercial litigation attorney on your side.
Rejecting an opponent’s settlement offer can potentially carry with it substantial financial implications. One case in which the rejection of a settlement offer was at the center of the dispute was a lawsuit between a railroad and rail-transit contractor and an asphalt production company. The rail company, which was the plaintiff in that lawsuit, decided at one point to pursue a settlement. The rail company sent the asphalt company a settlement offer via email. The defendant received the email but did not accept the offer. The case went to the jury, and they returned a verdict for the plaintiff and awarded damages that were more than 25% greater than what the rail contractor offered in the email to settle the case.
The size of that damages award in relation to the settlement offer was potentially very significant. Florida has a statute, Section 768.79, that says that, if you receive and reject a settlement offer, and the courts award a judgment that is more than 25% greater than the settlement offer (in the case of offers made by the plaintiff, or more than 25% less than the settlement offer in the case of a defense offer), the side that offered the settlement is entitled to demand that the opposing party pay its attorneys’ fees incurred from the date of the settlement offer forward.