Should the promise modify the settlement agreement

Assignment Help Management Theories

Reference no: EM131471577

Question: Limited partners sued their former law firm. The parties agreed to a written partial settlement that dismissed some of their claims and agreed to further negotiations on the remaining claims. It also stated, "This agreement... constitute[s] the entire agreement of the parties. There are no additional promises... except those expressly set forth in this agreement."

The law firm finally offered to settle for $80,000 when the partners had expected $275,000 to $550,000. The higher amount expected resulted from an oral promise made by the law firm before the signing of the agreement. Should the promise modify the settlement agreement?

Reference no: EM131471577

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