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.
Wake North Carolina Notice Accompanying Check Tendered in Settlement of Disputed Claim serves as a legal document used in Wake County, North Carolina, to provide information and documentation related to the resolution of a disputed claim. This notice is typically sent by the party making the settlement offer, also known as the offer or, and is received by the party receiving the payment, also known as the offeree. When a disputed claim arises between two parties, such as in a civil lawsuit or insurance claim, it often leads to negotiations and discussions to reach a settlement agreement. Once both parties agree on the terms of the settlement, the offer or will send a check tendered as a payment for the agreed-upon amount. Along with the check, a Notice Accompanying the Check is provided to the offeree, detailing crucial information regarding the settlement and final resolution of the dispute. The Notice Accompanying Check in Wake North Carolina typically contains the following key elements: 1. Date: The date of the notice issuance, indicating when the document was prepared. 2. Parties: It identifies the names of both the offer or and the offeree involved in the dispute. 3. Claim Description: A thorough description of the disputed claim, providing details about what the claim pertains to, such as property damage, personal injury, or contractual disagreement. 4. Settlement Agreement: This section outlines the terms and conditions of the settlement reached between the parties, including the amount of payment, payment method, and any other relevant stipulations. 5. Payment Information: Specifics regarding the enclosed check, including the check number, date, and the amount tendered in settlement of the disputed claim. 6. Release of Liability: The notice should include legal language emphasizing that acceptance of the check constitutes a full and final settlement of the dispute, and the offeree agrees to release the offer or from any further claims or liability relating to the disputed matter. 7. Execution and Signature: The offer or should provide a space for the offeree to acknowledge acceptance of the check and settlement, typically by signing and dating the notice. While Wake North Carolina Notice Accompanying Check Tendered in Settlement of Disputed Claim follows a standard format, there may be different types of notices based on the nature of the dispute or the specific requirements outlined in a settlement agreement. For instance, there could be variations in the content when dealing with settlement agreements for different types of claims, such as personal injury, property damage, breach of contract, or employment disputes. However, regardless of the specific type, the notice primarily serves as an instrument to finalize and document the resolution of a disputed claim through a monetary settlement.
