Structured Question:
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What is a lump sum settlement?
Answer:
Before 1979 in Canada a plaintiff was compensated for personal injuries with a one-time lump-sum payment representing the sum of all damages suffered by the plaintiff. Whether awarded by a court, or paid as a settlement by the defendant's insurer, a plaintiff received one lump sum.
It would then be up to the plaintiff to spend the money wisely.
It would then be up to the plaintiff to spend the money wisely.
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