Help! Private settlement for at-fault accident - document?

[y2jversion1]

Brother hit a car while changing lanes - not serious or much damage and the other party agreed to settle for money outside insurance.

In this case, would a document be advised? Also what would the content of the document be, something like:


"We the undersigned agree to settle the damage to [other party's car] caused by [brother] for the mutually agreed amount of [$$$].

Both parties agree that they shall not file claims through insurance for the damage to either vehicles or any other problems arising from the accident.

Both parties agree that they shall not file any law-suits or pursue any further legal actions against each other as a result of the accident.

Signed & dated:


[Brother] [other party]"
Any advice?

Thanks!

[cgtlky]

Brother hit a car while changing lanes - not serious or much damage and the other party agreed to settle for money outside insurance.

In this case, would a document be advised? Also what would the content of the document be, something like:



Any advice?

Thanks!

Seek a lawyer for advice will be the best option. They know the law.

[stuntman]

not a laywer, but, I did notice you forgot:

-the "paid in full" part.
-the date of the accident and a brief desrcription of the damage. Settlement will cover all.
-the law part that states that damage over X amount of dollars must be reported to the police.

How much?