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
After a verdict, both parties usually submit a proposed judgment to the court with an economist's report. The court then decides the amount of the judgment to be docketed. But before the momentum of the trial reaches that stage, the plaintiff's attorney should undertake his/her own calculations. This article uses New York's structured judgment statute as an example.
By
Lawrence GoldhirschThis premium content is locked for LawJournalNewsletters subscribers only
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