Structured Interview Question:

What is a lump sum settlement?

Submitted by: Muhammad

Before 1979 in Canada a plaintiff was compensated for personal injuries with a one-time lump-sum payment representing the sum of all damages suffered by the plaintiff. Whether awarded by a court, or paid as a settlement by the defendant's insurer, a plaintiff received one lump sum.
It would then be up to the plaintiff to spend the money wisely.
Submitted by: Muhammad