What exactly is a judgment?
A judgment is the formal decision made by a court following a lawsuit. Once the court decides the issues that each party presented, the lawsuit is concluded. The judgment indicates who won the lawsuit and what “damages” they are entitled to receive. The “damages” or winnings might be money or some other relief. Once the judgment is entered, the court cannot take another look at the issues except in special circumstances. For instance, a party may be able to appeal the judgment in some cases. A judgment may not be considered final until after appeals or requests for new trials have been exhausted or waived.
A default judgment, can be entered before the parties even go to court. If someone filed a lawsuit against you, if you don’t file an answer to the lawsuit within the time allowed, then the party who filed the lawsuit against you could receive a default judgment and win the lawsuit without ever stepping foot in a courtroom. Once an answer is filed, the lawsuit can go down one of two paths: agreement or trial. If both parties come to an agreement and the court approves it, then the court may enter an agreed judgment. Many favor this because you don’t have to argue and fight in court. If the parties cannot come to an agreement, then they generally have a trial before the judge or a jury.
THE TAKEAWAY: Although judgments may differ in a variety of ways, a judgment is the conclusion to a lawsuit. A judgment identifies the damages and remedies awarded which may be money or some other action to be performed.
– The Litigation Team
Ethan | Mark