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 West Virginia Agreement for Accord and Satisfaction of a Disputed Claim for Negligence is a legal document that outlines the terms and conditions agreed upon between parties involved in a dispute regarding personal and property damages caused by negligence. This agreement serves as a means to resolve the dispute outside of court through mutually acceptable terms. Keywords: West Virginia, Agreement, Accord and Satisfaction, Disputed Claim, Personal Damages, Property Damages, Negligence. Types of West Virginia Agreements for Accord and Satisfaction of a Disputed Claim (i.e., Personal and Property Damages) for Negligence may include: 1. Individual vs. Individual Agreement: This type of agreement is used when two individuals are involved in a dispute concerning personal and property damages caused by negligence. It outlines the specific details of the settlement, including the compensation amount and any other conditions for resolution. 2. individual vs. Corporation Agreement: This type of agreement is used when an individual and a corporation are involved in a dispute concerning personal and property damages caused by negligence. It addresses compensation, liability, and any other specific conditions for resolution. 3. Corporation vs. Corporation Agreement: This type of agreement is used when two corporations are involved in a dispute concerning personal and property damages caused by negligence. It may include provisions for compensation, liability, and any other necessary conditions agreed upon. 4. Insurance Company Settlement Agreement: This type of agreement is used when an individual or corporation files a claim for personal and property damages caused by negligence against an insurance company. It outlines the settlement terms, including compensation, coverage, and any other relevant conditions. 5. Mediated Settlement Agreement: In certain cases, parties may choose to involve a mediator to facilitate the negotiation and resolution process for a disputed claim of negligence in personal and property damages. This agreement reflects the terms reached through mediation and includes the agreed-upon compensation and any other conditions. It is important to note that these are general categories, and the actual types of agreements may vary depending on the specific circumstances of the dispute.The West Virginia Agreement for Accord and Satisfaction of a Disputed Claim for Negligence is a legal document that outlines the terms and conditions agreed upon between parties involved in a dispute regarding personal and property damages caused by negligence. This agreement serves as a means to resolve the dispute outside of court through mutually acceptable terms. Keywords: West Virginia, Agreement, Accord and Satisfaction, Disputed Claim, Personal Damages, Property Damages, Negligence. Types of West Virginia Agreements for Accord and Satisfaction of a Disputed Claim (i.e., Personal and Property Damages) for Negligence may include: 1. Individual vs. Individual Agreement: This type of agreement is used when two individuals are involved in a dispute concerning personal and property damages caused by negligence. It outlines the specific details of the settlement, including the compensation amount and any other conditions for resolution. 2. individual vs. Corporation Agreement: This type of agreement is used when an individual and a corporation are involved in a dispute concerning personal and property damages caused by negligence. It addresses compensation, liability, and any other specific conditions for resolution. 3. Corporation vs. Corporation Agreement: This type of agreement is used when two corporations are involved in a dispute concerning personal and property damages caused by negligence. It may include provisions for compensation, liability, and any other necessary conditions agreed upon. 4. Insurance Company Settlement Agreement: This type of agreement is used when an individual or corporation files a claim for personal and property damages caused by negligence against an insurance company. It outlines the settlement terms, including compensation, coverage, and any other relevant conditions. 5. Mediated Settlement Agreement: In certain cases, parties may choose to involve a mediator to facilitate the negotiation and resolution process for a disputed claim of negligence in personal and property damages. This agreement reflects the terms reached through mediation and includes the agreed-upon compensation and any other conditions. It is important to note that these are general categories, and the actual types of agreements may vary depending on the specific circumstances of the dispute.