Learner's definition of SETTLEMENT
1 a [count] : a formal agreement or decision that ends an argument or dispute
also : an amount of money that someone receives as part of such an agreement b [singular] : the act or process of settling an argument or disagreement
I got the house in the divorce settlement.
The parties have not been able to reach/negotiate a settlement in the case.
an out-of-court settlement [=an agreement made to avoid a court case]
2 [noncount] : the act of paying back money that is owed — often + of 3 a [count] : a place where people have come to live and where few or no people lived before b [noncount] : the act or process of moving to a new area or place to live there : the act or process of settling an area or place — often + of c [count] : a small village