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.
Palm Beach Florida Agreement for Accord and Satisfaction of a Disputed Claim for Negligence is a legal document that aims to resolve conflicts arising from personal and property damages caused by negligence. This agreement allows parties involved in a dispute to reach a mutually satisfactory resolution, avoiding the need for costly and time-consuming court proceedings. Keywords: Palm Beach Florida, Agreement for Accord and Satisfaction, Disputed Claim, Personal Damages, Property Damages, Negligence, Legal Document, Conflict Resolution, Court Proceedings. There are no specific types or variations of the Palm Beach Florida Agreement for Accord and Satisfaction of a Disputed Claim for Negligence. However, this agreement can be used in various situations where negligence has resulted in personal or property damages.Palm Beach Florida Agreement for Accord and Satisfaction of a Disputed Claim for Negligence is a legal document that aims to resolve conflicts arising from personal and property damages caused by negligence. This agreement allows parties involved in a dispute to reach a mutually satisfactory resolution, avoiding the need for costly and time-consuming court proceedings. Keywords: Palm Beach Florida, Agreement for Accord and Satisfaction, Disputed Claim, Personal Damages, Property Damages, Negligence, Legal Document, Conflict Resolution, Court Proceedings. There are no specific types or variations of the Palm Beach Florida Agreement for Accord and Satisfaction of a Disputed Claim for Negligence. However, this agreement can be used in various situations where negligence has resulted in personal or property damages.