Show on page(s):   Carla, while drunk driving, caused an
automobile collision that resulted in injury to Bob, who was a
passenger in Carla’s car. Bob sued Carla in court for $3
million. The parties agreed to a structured settlement outside
of court whereby Carla, instead of paying one lump sum of $3
million to Bob, would purchase an annuity that would pay Bob a
monthly sum of $1,000 for a lifetime. Bob, as the annuitant,
would benefit from the annuity that Carla purchased as
stipulated by the settlement agreement.