What is a judgment in the context of a legal dispute?

In the context of a legal dispute, a judgment refers to a final decision from a court that resolves the issues at hand, determining the rights and obligations of the parties involved. This decision can result from a trial or other legal proceedings and serves as the court's authoritative ruling on the matter. A judgment not only concludes the dispute but can also have significant implications, including the enforcement of orders, the awarding of damages, or the establishment of legal precedents.

The other options describe different legal concepts that do not equate to a judgment. A settlement, for instance, involves an agreement made between the parties to resolve their dispute without going to trial, which is distinct from a court's ruling. An informal agreement would lack the formalities and enforceability of a judgment. Finally, a preliminary ruling refers to decisions made by the court before the trial concludes, typically addressing specific issues that arise during the proceedings, rather than delivering a final verdict.