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CAse 10-1 - the parties never entered into a binding...

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Catherine Reeves Case 10-1 Citation Catamount Slate Product, INC. v. Sheldon. Supreme Court of Vermont, 2004. 2003 VT 112, 845 A2d. 324. Facts Catamount Slate Products, Inc., owned and operated by the plaintiffs, the Reed family, are appealing a motion made by the defendants, the Sheldons, to enforce the settlement agreement concerned with the Reeds’ use of the Sheldon’s access road leading to the quarry and the operation of the Reeds’ business, Catamount Slate Products, Inc. The Sheldon’s allege that the two parties did enter into an enforceable settlement agreement based on the attorney’s notes taken at the end of the mediation in addition to the unsigned drafts of the Lease and Settlement Agreements. The Reeds argue that there was no intent to be bound and, therefore,
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Unformatted text preview: the parties never entered into a binding settlement agreement. Issue Was a binding, enforceable oral settlement agreement reached at mediation between both the plaintiff and defendant, when combined with the unexecuted documents drafted subsequently? Decision No Reasoning There were four factors that contributed to the decision of reversing the order enforcing the settlement. First, the documents revealed intent not to be bound prior to the execution of the final document. Paragraph nine of the agreement stated that the statement would not be “binding upon either party unless reduced to a final agreement of settlement” and that “any final agreement of settlement would be in writing and signed by every party sought to be charged.”...
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