Rules for negotiating for out of court settlement?

Are there rules of law that are to be followed by Attorneys when
negotiating for an out of court settlement? Such as being required, if
you are negotiating, to negotiate in good faith as opposed to just
stringing the other party along for whatever reason. Making demands of
the other party without specifying specific results or amounts.

For instance if one attorney insists a settlement is contingent on the
others client getting a loan approved but won't provide a specific
amount?

Does the fulfilment of such a task become a verbal agreement that must
be honored?


Are there infractions of ethical nature (for a lack of better words),
or events during negotiations that should be reported to the Judge for
a ruling?

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