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Joe, good morning. Is the other party putting a time limit on acceptance, with what they proposed?
Thank you for the additional information. No, there is a not. Any time limit can be set for acceptance and/or requested for review once a settlement is proposed. It is an offer and can be revoked at any time. However, a party can certainly request that the offer be kept opened for X amount of time, as a result of having it reviewed or looked over by other parties and a reasonable amount of time needed, to get this done. If other parties need to review the proposed settlement, you can simply ask the offering party for 48 hours to get back to them. There is nothing that legally obligates them to agree and allow this but if their goal is to settle, they should not have a problem with it.
I need you to be more specific. What type of time line are you referring to? For example, person A makes an offer to settle to person B. Person B receives it and asks for 48 hours to review the offer. Person A agrees.
Hi, are you still with me?