Your author provides a case example in Chapter $11$ that involved a woman who was hit by a bus. The lady's attorney filed a lawsuit against the bus company and the insurance company for the bus company offered to pay the woman $$1M-$ the full amount of its liability policy. The woman signed a release prepared by her lawyer that accepted the $$1M$ settlement in exchange for her giving up any other claims she might have against the bus company.

For reasons unknown, the lawyer did not send the signed release to the bus company or the insurance company. The woman claimed she had changed her mind about settling and that is why release was never sent. The woman then changed lawyers and the first lawyer claimed the release his former client had signed was binding $($so he could collect his fee of about $$333,000!).$ Was the release legally binding on the woman and the insurance company?

Yes. The woman had signed the release with the advice of a lawyer and the matter was done. The fact the release was not actually mailed to the bus company or the insurer was not relevant. A contract existed between the parties.

No$.$ The release was never sent to the bus company or the insurer and, thus, the woman had a legal right to change her mind about settling.