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.
Title: New Jersey Notice Accompanying Check Tendered in Settlement of Disputed Claim — Detailed Description and Types Description: The New Jersey Notice Accompanying Check Tendered in Settlement of Disputed Claim is a legal document sent along with a check by a party seeking to resolve a disputed claim in the state of New Jersey. This notice serves as a formal communication, providing important information and clarification regarding the settlement terms. Keywords: New Jersey, Notice Accompanying Check, Tendered, Settlement, Disputed Claim Types of New Jersey Notice Accompanying Check Tendered in Settlement of Disputed Claim: 1. Notice of Settlement: This type of notice is sent by one party to another party involved in a disputed claim, indicating their intention to resolve the dispute by providing a check as a settlement. It includes specific details about the proposed settlement amount, payment terms, and any conditions or releases associated with accepting the check. 2. Revised Settlement Notice: In certain cases, disputes may require negotiation and modification of the original settlement terms. A revised settlement notice is sent when the parties reach a new agreement, amending the previous offer and enclosing an updated check to resolve the dispute. This notice highlights the changes made and ensures both parties are aware of the revised terms. 3. Final Settlement Notice: Once an agreed-upon settlement has been reached, the final settlement notice is prepared and sent to the affected party. This notice declares that the enclosed check represents the concluding payment, resolving the dispute entirely. It may contain information regarding the conclusion of any pending legal proceedings or the surrendering of any claims against one another. 4. Conditional Settlement Notice: When a settlement offer is made with certain conditions or contingencies attached, the conditional settlement notice is used. This document clarifies the specific conditions that must be met or fulfilled by the recipient in order to accept and properly settle the disputed claim. It provides details of the proposed terms, along with the consequences of non-compliance with the stated conditions. 5. Compliance Verification Notice: In cases where a settlement is contingent upon the recipient's confirmation of specific actions or compliance, a compliance verification notice is sent. This notice requests the recipient to acknowledge or confirm that the agreed-upon terms have been met or that certain conditions have been satisfied. Upon receipt of this notice, the receiver may have to provide supporting documentation or additional information to validate their compliance. In conclusion, the New Jersey Notice Accompanying Check Tendered in Settlement of Disputed Claim is an essential legal document used for communicating settlement offers and resolving disputes in the state of New Jersey. Different types of notices cater to specific situations, ensuring transparency and clarity throughout the settlement process.Title: New Jersey Notice Accompanying Check Tendered in Settlement of Disputed Claim — Detailed Description and Types Description: The New Jersey Notice Accompanying Check Tendered in Settlement of Disputed Claim is a legal document sent along with a check by a party seeking to resolve a disputed claim in the state of New Jersey. This notice serves as a formal communication, providing important information and clarification regarding the settlement terms. Keywords: New Jersey, Notice Accompanying Check, Tendered, Settlement, Disputed Claim Types of New Jersey Notice Accompanying Check Tendered in Settlement of Disputed Claim: 1. Notice of Settlement: This type of notice is sent by one party to another party involved in a disputed claim, indicating their intention to resolve the dispute by providing a check as a settlement. It includes specific details about the proposed settlement amount, payment terms, and any conditions or releases associated with accepting the check. 2. Revised Settlement Notice: In certain cases, disputes may require negotiation and modification of the original settlement terms. A revised settlement notice is sent when the parties reach a new agreement, amending the previous offer and enclosing an updated check to resolve the dispute. This notice highlights the changes made and ensures both parties are aware of the revised terms. 3. Final Settlement Notice: Once an agreed-upon settlement has been reached, the final settlement notice is prepared and sent to the affected party. This notice declares that the enclosed check represents the concluding payment, resolving the dispute entirely. It may contain information regarding the conclusion of any pending legal proceedings or the surrendering of any claims against one another. 4. Conditional Settlement Notice: When a settlement offer is made with certain conditions or contingencies attached, the conditional settlement notice is used. This document clarifies the specific conditions that must be met or fulfilled by the recipient in order to accept and properly settle the disputed claim. It provides details of the proposed terms, along with the consequences of non-compliance with the stated conditions. 5. Compliance Verification Notice: In cases where a settlement is contingent upon the recipient's confirmation of specific actions or compliance, a compliance verification notice is sent. This notice requests the recipient to acknowledge or confirm that the agreed-upon terms have been met or that certain conditions have been satisfied. Upon receipt of this notice, the receiver may have to provide supporting documentation or additional information to validate their compliance. In conclusion, the New Jersey Notice Accompanying Check Tendered in Settlement of Disputed Claim is an essential legal document used for communicating settlement offers and resolving disputes in the state of New Jersey. Different types of notices cater to specific situations, ensuring transparency and clarity throughout the settlement process.
