Historically, a defendant would become obligated to pay the full amount of a personal injury judgment in a lump sum as soon as the judgment was entered. In 1985, New York enacted a Periodic Payment of Judgments Act as part of the State's effort at tort reform.
Practice Tip: Calculating Structured Judgments
It is of great importance for a trial lawyer to understand the mechanics of a periodically paid or structured judgment if s/he is trying a case in a jurisdiction in which such judgment will be entered. Otherwise, the trial lawyer may be rejecting offers that, at first glance, appear to be much lower than verdict value but may, in fact, be equal to or higher than a verdict.
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Lawrence GoldhirschThis premium content is locked for LawJournalNewsletters subscribers only
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