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Agreement for Accord and Satisfaction of Obligation under Stock...

Kentucky Agreement for Accord and Satisfaction of Obligation under Stock Purchase Agreement

Name: Kentucky Agreement for Accord and Satisfaction of Obligation under Stock Purchase Agreement
Brand: US Legal Forms
Rating: 4.7 (434 reviews)

Category:

Corporations - Public - Stocks

State:

Multi-State

Control #:

US-1340734BG

Format:

Instant download

Description

A stock purchase agreement is an agreement that two parties sign when shares of a company are being bought or sold.

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How to fill out Kentucky Agreement For Accord And Satisfaction Of Obligation Under Stock Purchase Agreement?

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FAQ

Under most state law, a valid and satisfaction requires four elements as a minimum, usually, (1) proper subject matter, (2) competent parties, (3) meeting of the minds of the parties and (4) adequate consideration.

An and satisfaction is a legal contract whereby two parties agree to discharge a tort claim, contract, or other liability for an amount based on terms that differ from the original amount of the contract or claim. and satisfaction is also used to settle legal claims prior to bringing them to court.

And satisfaction is a settlement of an unliquidated debt. For example, a builder is contracted to build a homeowner a garage for $35,000. The contract called for $17,500 prior to starting construction, to disburse $10,000 during various stages of construction, and to make a final payment of $7,500 at completion.

An and satisfaction occurs when the parties involved in a dispute reach a new agreement to resolve the dispute. This agreement may involve a compromise, such as a payment of less than the full amount owed or a release of certain claims.

Thelma owes Louise $100,000 under a contract. Thelma owns a beach house which she promises to give Louise in settlement of the debt and Louise promises to accept the house in settlement of the debt instead of the $100,000. This new agreement is an .

The basic elements of a valid and satisfaction are that a person in good faith has tendered an instrument to the claimant as full satisfaction of the claim, the amount of the claim was unliquidated or subject to a bona fide dispute, and the claimant actually received and accepted the instrument.

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D. Obligor and Obligees hereby acknowledge and agree that after the stated performance hereunder has been rendered by Obligor, the Promissory Notes, including ... A sample accord agreement under which a party promises to accept a stated performance in satisfaction of the other party's existing duty.by S Williston · 1904 · Cited by 11 — Let it be supposed, first, that the accord was not intended immediately to satisfy and destroy the original cause of action, and further that the creditor, in ... 355.3-311 Accord and satisfaction by use of instrument. (1) If a person against whom a claim is asserted proves that: (a) That person in good faith tendered ... by MD Floyd · 1994 · Cited by 9 — See WHITE & SUMMERS, supra note 11, § 13-24, at 607-08 ("If the payee indorses the check and receives payment, he has accepted the contract and so discharged ... A process by which two parties to a claim involving a debt agree to discharge the claim by exchanging a new payment that will satisfy the claim, rather than ... An accord and satisfaction is a substitute contract for settlement of a debt by some alternative other than full payment. The consideration for an accord is ... Accord and satisfaction is a legal contract whereby two parties agree to discharge a claim for an amount other than the original amount of the claim. This Standard Document can be used as an accord and satisfaction of a sale of goods or services agreement where the parties agree to settle all obligations ... by ND Hamilton · Cited by 34 — The most. Important obligation under the production contract concerns not using pesticides on the crop. Part of the contract reads: Better-Life Requirements ...

Kentucky Agreement for Accord and Satisfaction of Obligation under Stock Purchase Agreement

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