Accord and satisfaction is a method of discharging a claim whereby the parties agree to give and accept something in settlement of the claim and perform the agreement. Accord is the agreement and satisfaction is its execution or performance.
A contract is usually discharged by performance of the terms of the agreement. However, the parties may agree to a different performance. This is called an accord. When the accord is performed, this is called an accord and satisfaction. The original obligation is discharged.
In order for there to be an accord and satisfaction, there must be
(1) a bona fide dispute;
(2) an agreement to settle the dispute; and
(3) the performance of the agreement.
A settlement in which one party promises to forego an undisputed, liquidated claim in exchange for a promise to perform, or the performance of, a pre-existing duty will not be held to be enforceable by many courts, because of the absence of consideration. However, the promise to perform, or the performance of, anything slightly different from the pre-existing duty is sufficient consideration to support a promise to forego the claim. When a claim is disputed in good faith, or when an undisputed claim is unliquidated (the amount owed has not been determined), a settlement of such a claim is clearly enforceable.
The Tarrant Texas Agreement for Accord and Satisfaction of an Undisputed Hospital Claim is a legal document that outlines the terms and conditions under which a hospital claim can be resolved in Tarrant County, Texas. This agreement serves as a means to reach a settlement between the hospital and the patient or insurance company by providing a mutually agreed-upon resolution for an undisputed claim. This agreement is specifically designed to address claims that are not in dispute, meaning both parties agree on the validity and accuracy of the claim. It aims to provide a quick and efficient resolution, saving time and resources for all involved parties. The Tarrant Texas Agreement for Accord and Satisfaction of an Undisputed Hospital Claim typically includes several key elements. These may include: 1. Identification of the parties involved: The agreement will clearly state the names and contact information of the hospital and the patient or insurance company. 2. Claim details: The agreement will provide a detailed description of the claim, including the date of service, the services rendered, and the amount being claimed. 3. Acceptance of payment: The agreement will outline the terms of payment, including the amount agreed upon to settle the claim and the timeframe for payment. 4. Release of liability: Both parties will agree to release each other from any further liability or legal action related to the claim once the payment is made. 5. Signatures: The agreement requires the authorized representatives of the hospital and the patient or insurance company to sign and date the document, confirming their acceptance of the terms. It is worth noting that while this description provides a general overview of the Tarrant Texas Agreement for Accord and Satisfaction of an Undisputed Hospital Claim, there may be variations or specific templates provided by different hospitals or healthcare providers in Tarrant County, Texas. These templates may have slightly different sections or clauses tailored to the specific needs of the hospital or patient. It is advisable for both parties involved in an undisputed hospital claim to carefully review and understand the terms outlined in the agreement before signing. Legal consultation may also be sought to ensure the agreement aligns with applicable local, state, and federal laws governing healthcare and contractual agreements in Tarrant County, Texas.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
