Is an agreement to settle the litigation a contract?

British Columbia, Canada

The following excerpt is from Walsh v Walsh, 2018 BCSC 199 (CanLII):

The agreement to settle the litigation is a contract. The contractual intent of the parties is “objectively determined by construing the plain and ordinary meaning of the words in the contract in the context of the contract as a whole and the surrounding circumstances (or factual matrix) that existed at the time the contract was made, unless to do so would result in absurdity”: Athwal v. Black Top Cabs Ltd., 2012 BCCA 107 at para. 42.

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