Gimbel Bros. v. Swift

This case involves a challenge to the validity of a familiar legal device.

Cecil Swift is Carl Swift’s father. Carl owed $714.43 to plaintiff. On August 21, 1969, father and son met with plaintiff’s attorney. The three of them executed a document of the kind commonly employed by the commercial community in such situations. It is captioned:

Civil Court of the City of New York County of New York

Cimbel Bros., Inc., Plaintiff, • — against — Cecil Swift and Carl Swift, Defendants.

The body of the document is a stipulation that ‘ ‘ the above entitled action is hereby settled ’ ’ on terms set forth in…