Terms Used In Maryland Code, FAMILY LAW 3-104

  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
(a) A contract for payment or settlement of a claim abolished or prohibited by this title is void and unenforceable.

(b) A holder in due course may enforce a negotiable instrument for payment or settlement of a claim prohibited by this title.