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What Is a Stipulation? Definition, Uses and Importance.

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An agreement between parties or their attorneys. This contract details what will happen if one of the terms are met, and how it can affect either side accordingly.

The conclusion of a lawsuit by mutual consent of the parties. A stipulation of facts, for example, means that neither party is required to prove the facts in question; the jury is instructed to accept the stipulation as undisputed evidence in the case. In contracts, a representation or statement is made by one of the parties to the agreement.

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