Texas Finance Code 304.106 – Settlement Offer Requirements to Prevent Prejudgment Interest Accrual
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Terms Used In Texas Finance Code 304.106
- in writing: includes any representation of words, letters, or figures, whether by writing, printing, or other means. See Texas Government Code 312.011
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
To prevent the accrual of prejudgment interest under this subchapter, a settlement offer must be in writing and delivered to the claimant or the claimant’s attorney or representative.