What type of settlement is referred to as a "walk away" settlement?

A "walk away" settlement is accurately identified as a no release settlement. This terminology implies that the parties involved in the settlement do not enter into any formal agreement to release each other from further liability. In practical terms, this means that while a settlement might be reached, the parties can essentially "walk away" from any claims or disputes without formally resolving them through a release.

In many cases, a no release settlement is used when parties want to settle a dispute or a claim but may still want to maintain the option to bring forth legal action later. This often occurs in situations where the parties are unsure about the implications of a full release and want to retain some rights for future claims. The informal nature of this type of settlement enables a quick resolution without the formalities and potential complications of an official release document.

In contrast, other types of settlements, such as full release or partial release settlements, explicitly involve some form of agreement where the parties agree to relinquish certain rights or claims against each other, making them distinct from the concept of a "walk away" settlement.