An out of court settlement is a legally binding agreement between parties to resolve a dispute outside of court. Constructing one does not require complex forms or legal procedures. It requires only a simple contract between willing parties.
Unless otherwise indicated, a valid contract is formed by the sole exchange of consents between parties having the capacity to contract. The law does not require a particular form to demonstrate exchange of consents between parties.
Therefore, whether it is a wet signature on a document, an exchange via email, fax, or speech, or even filing in a form on the Internet, as long as clear exchange of consents is demonstrated, an enforceable contract exists.