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.
An example would be settlement of a lawsuit for breach of contract. The parties might settle for less than the amount called for under the contract if the amount is in dispute. An accord and satisfaction is also a method of settling a cause of action arising either from a civil wrong (tort), by substituting for the cause of action an agreement for its satisfaction and the performance of the substituted agreement. The accord is the agreement; the satisfaction is the performance of the agreement.
The Texas Agreement for Accord and Satisfaction of a Disputed Claim for Negligence, specifically related to personal and property damages, is a legal document used to settle a dispute between parties involved in a negligence case. By executing this agreement, the parties agree to resolve the dispute through a mutually agreed upon settlement, rather than pursuing a formal legal action. Keywords: Texas Agreement, Accord and Satisfaction, Disputed Claim, Negligence, Personal Damages, Property Damages. Different types of agreements falling under the Texas Agreement for Accord and Satisfaction of a Disputed Claim for Negligence include: 1. Texas Agreement for Accord and Satisfaction of Disputed Personal and Property Damages Claim for Negligence: This type of agreement is used when both personal and property damages are involved in a negligence case. It outlines the terms and conditions of the settlement, such as the amount of compensation and any other agreed-upon remedies. 2. Texas Agreement for Accord and Satisfaction of Disputed Personal Damages Claim for Negligence: When only personal damages are at issue in a negligence case, this type of agreement is utilized. It lays out the terms under which the injured party will be compensated, including any medical expenses, pain and suffering, lost wages, and other related damages. 3. Texas Agreement for Accord and Satisfaction of Disputed Property Damages Claim for Negligence: In cases where only property damages arise from a negligence incident, this agreement is used to settle the dispute. It defines the compensation for the damaged property, repair or replacement costs, depreciation, and any other relevant provisions. It is important to note that the specific terms and provisions of these agreements may vary depending on the circumstances of each case. Parties involved are advised to consult with legal professionals to ensure the adequacy and enforceability of the agreement within the context of Texas law.
