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.
Where a claim is disputed, and where the creditor fails to reject a check for a lesser amount remitted to the creditor by the debtor on the clear condition that it be accepted in full satisfaction, the acceptance on the part of the creditor amounts to an accord and satisfaction of the creditor's larger claim. No particular language is required to be used by a debtor in making a tender of a check in full settlement of a claim against the debtor, so long as the tender clearly indicates that acceptance by the creditor of the amount offered must be in full satisfaction of the claim.
The following form is a sample of a notice accompanying a check tendered in settlement of a claim that is in dispute.
Collin Texas Notice Accompanying Check Tendered in Settlement of Disputed Claim: A Collin Texas Notice Accompanying Check Tendered in Settlement of Disputed Claim is a legal document that accompanies a check from a party who wishes to settle a disputed claim. This notice serves as a written notification to the recipient explaining the purpose of the check and its intended use. In Collin County, Texas, individuals or organizations involved in a dispute may choose to resolve the matter through negotiation and settlement. When an agreement is reached, one party may choose to provide a monetary settlement as a resolution. In such cases, the paying party will issue a check to the recipient. To ensure transparency and clarity, a Collin Texas Notice Accompanying Check Tendered in Settlement of Disputed Claim is typically attached to the check. This notice outlines the details of the settlement, including the parties involved, the reason for the dispute, the agreed-upon settlement amount, and any additional terms or conditions. The purpose of including this notice is to provide a comprehensive explanation of the payment, prevent any misunderstandings, and serve as evidence of the settlement. It acts as a written record that can be referred to in case of any future disputes or disagreements regarding the settlement. Different types of Collin Texas Notice Accompanying Check Tendered in Settlement of Disputed Claim may include: 1. Personal Injury Claim Settlement Notice: This type of notice is used when an individual has suffered physical or emotional harm due to the negligence or intentional actions of another party. The notice will detail the settlement amount agreed upon as compensation for the injuries sustained. 2. Property Damage Settlement Notice: This notice is applicable when a dispute arises concerning damages caused to personal or real property. It includes information about the reimbursement amount agreed upon for the repair or replacement of the damaged property. 3. Contract Breach Settlement Notice: In cases where parties have entered into a contractual agreement and one party has failed to fulfill their obligations, this notice specifies the settlement amount agreed upon to compensate for the breach. 4. Insurance Claim Settlement Notice: When an insured party makes a claim against their insurance policy, this notice serves to communicate the settlement amount offered by the insurance provider to resolve the claim. In any type of Collin Texas Notice Accompanying Check Tendered in Settlement of Disputed Claim, it is crucial to include all relevant details pertaining to the settlement to ensure mutual understanding and avoid future conflicts.
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.
