Section 7.6 Mary Carter Agreement

• Library: Settling Cases 2014

“A Mary Carter Agreement[, the tombstone derived from Booth v. Mary Carter Paint Co., 202 So.2d 8 (Fla. Dist. Ct. App. 1967),] is an agreement which limits the agreeing defendant’s liability to a specified amount and guarantees the plaintiff that he will receive at least that amount.” Hackman v. Dandamudi, 733 S.W.2d 452, 455 (Mo. App. E.D. 1986). These agreements also provide that:

· the agreeing defendant will remain in the case without fully disclosing the agreement; and

· if judgment for more than the specified amount is obtained against the nonsettling defendant, the money collected will be used first to offset the specified amount, so that the settling defendant may wind up...