Conclusion on this from a Law firm.?

[vanaken25]

I/We, XXXXX , hereby agree to accept to accept the sum of (SINGAPORE DOLLARS SEVEN THOUSAND AND FIVE HUNDRED ONLY) ($7500) to be paid to (M/S RIAZ) in full and final settlement of all claims, costs and disbursement arising from personal injury or loss of or damage to property sustained by me/us as a result of an accident involving <me> and <the other party's> on the 12 day of August 2008 at ALONG <streetname> and I/we agree that the said sum is paid with a denial of liability on the part of AMERICAN HOME ASSURANCE COMPANY being the insurer, insured and the driver of vehicle of the other party respectively, (or any other person or persons) in respect of said loss and for damage whether now or hereafter to become manifest, and is accepted by me/us to the intent that the said AMERICAN HOME ASSURANCE COMPANY and all other persons be absolutely and finally exonerated and discharged from all claims of every natrue and kind whatsoever which I/we now or hereafter may have arising out of or connected with or traceable to the said accident.

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Can you guys give me a brief summary on what is being mentioned here?

The way i interpret it is as follow:
I find it ridiculous that this solicitor is not able to help me stake a claim of 3000+ in general damages as calculated/mentioned by them earlier in another letter and now AIA denied liability, thus they are asking me for 7500?

My family and I feel distressed, as this is material in relative to my family's income. Is there a provision in common law for us to sue for the distress caused?

[baigh75]

American Home Assurance Company is offering to pay to the injured persons $7500 in full settlement of all claims from the August 2008 accident. If the injured persons accept that, it is done, over, there is no more lawsuit.

If the injured persons think that is not enough, they can refuse to accept it and try to get more in court. As for "distress", I'm not sure what the law would be in your part of the world, but your solicitor should be able to answer that question for you.

[lathrop]

Couldn't edit while it was in voting - but, my answer still stands. The money is paid to the injured parties through their attorneys, M/S Riaz.