Colorado Springs Colorado Agreement for Accord and Satisfaction with Amount of Claim Undetermined
Category:
State:
Multi-State
City:
Colorado Springs
Control #:
US-0142BG
Format:
Word;
Rich Text
Instant download
Description
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 (deemed satisfied). 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. This agreement shows a situation where the total amount of the claim cannot be determined because of the insufficiency or inadequacy of the records of both parties.
