Accord and satisfaction is a method of discharging a claim whereby the parties agree to give and accept something in settlement of the claim and perform the agreement. Accord is the agreement and satisfaction is its execution or performance.
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.
A settlement in which one party promises to forego an undisputed, liquidated claim in exchange for a promise to perform, or the performance of, a pre-existing duty will not be held to be enforceable by many courts, because of the absence of consideration. However, the promise to perform, or the performance of, anything slightly different from the pre-existing duty is sufficient consideration to support a promise to forego the claim. When a claim is disputed in good faith, or when an undisputed claim is unliquidated (the amount owed has not been determined), a settlement of such a claim is clearly enforceable.
The Kings New York Agreement for Accord and Satisfaction of an Undisputed Hospital Claim is a legal document that outlines the terms and conditions for resolving a hospital claim that is not disputed by both parties involved. This agreement aims to provide a framework for settling the claim in a fair and satisfactory manner, ensuring that both the hospital and the claimant are satisfied with the resolution. The Kings New York Agreement for Accord and Satisfaction of an Undisputed Hospital Claim may vary depending on the specific circumstances of the claim and the parties involved. However, some common types of this agreement include: 1. Standard Kings New York Agreement: This is the most commonly used version and sets out the general terms and conditions for resolving undisputed hospital claims. It typically covers aspects such as the amount of the claim, payment terms, confidentiality, and release of liability. 2. Kings New York Agreement with Payment Plan: In cases where the claimant is unable to make a lump sum payment for the claim, this type of agreement may be used. It includes provisions for a structured payment plan, detailing the amount and frequency of payments to be made by the claimant. 3. Hospital Settlement Agreement with Release of Liability: This version of the Kings New York Agreement includes a comprehensive release of liability clause. It ensures that once the agreed upon settlement amount is paid, the hospital is released from any further obligations or claims related to the disputed matter. 4. Kings New York Agreement with Confidentiality Clause: In situations where both parties want to maintain the confidentiality of the settlement and avoid any public disclosure, this type of agreement includes a confidentiality clause. It prohibits the parties from discussing the settlement terms or disclosing any information related to the claim. Regardless of the specific type, the Kings New York Agreement for Accord and Satisfaction of an Undisputed Hospital Claim serves as a legally binding contract that provides a clear understanding of the resolution terms for both the hospital and the claimant. It ensures that the claim is settled fairly, allowing the hospital to receive payment for services rendered while providing the claimant with a satisfactory resolution to their claim.The Kings New York Agreement for Accord and Satisfaction of an Undisputed Hospital Claim is a legal document that outlines the terms and conditions for resolving a hospital claim that is not disputed by both parties involved. This agreement aims to provide a framework for settling the claim in a fair and satisfactory manner, ensuring that both the hospital and the claimant are satisfied with the resolution. The Kings New York Agreement for Accord and Satisfaction of an Undisputed Hospital Claim may vary depending on the specific circumstances of the claim and the parties involved. However, some common types of this agreement include: 1. Standard Kings New York Agreement: This is the most commonly used version and sets out the general terms and conditions for resolving undisputed hospital claims. It typically covers aspects such as the amount of the claim, payment terms, confidentiality, and release of liability. 2. Kings New York Agreement with Payment Plan: In cases where the claimant is unable to make a lump sum payment for the claim, this type of agreement may be used. It includes provisions for a structured payment plan, detailing the amount and frequency of payments to be made by the claimant. 3. Hospital Settlement Agreement with Release of Liability: This version of the Kings New York Agreement includes a comprehensive release of liability clause. It ensures that once the agreed upon settlement amount is paid, the hospital is released from any further obligations or claims related to the disputed matter. 4. Kings New York Agreement with Confidentiality Clause: In situations where both parties want to maintain the confidentiality of the settlement and avoid any public disclosure, this type of agreement includes a confidentiality clause. It prohibits the parties from discussing the settlement terms or disclosing any information related to the claim. Regardless of the specific type, the Kings New York Agreement for Accord and Satisfaction of an Undisputed Hospital Claim serves as a legally binding contract that provides a clear understanding of the resolution terms for both the hospital and the claimant. It ensures that the claim is settled fairly, allowing the hospital to receive payment for services rendered while providing the claimant with a satisfactory resolution to their claim.
