LOAN-RECEIPT AGREEMENT

loan-receipt agreement. Torts. A settlement agreement by which the defendant lends money to the plaintiff interest-free, the plaintiff not being obligated to repay the loan unless he or she recovers money from other tortfeasors responsible for the same injury. [Cases: Compromise and Settlement 7; Insurance 3524. C.J.S. Compromise and Settlement § 29; Insurance §§ 1465, […]