Connecticut Disputed Accounted Settlement

Category:

Loans and Lending - Settlements

State:

Multi-State

Control #:

US-02777BG

Format:

Instant download

Description

Parties may agree to a different performance of a contract 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 a bona fide dispute; an agreement to settle the dispute; and the performance of the agreement. The parties might settle for less than the amount called for under the contract.

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