Difference Between Satisfaction And Satisfactory In New York

State:
Multi-State
Control #:
US-00191
Format:
Word; 
Rich Text
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Description

The Notice of Satisfaction is a legal form used in New York to acknowledge the fulfillment of conditions set forth in an Escrow Agreement, with specific reference to liens on purchased assets. The key difference between 'satisfaction' and 'satisfactory' pertains to completion and acceptance; 'satisfaction' indicates that all obligations have been met, while 'satisfactory' reflects a subjective degree of adequacy. This form facilitates the disbursement of funds from an escrow agent to the seller after confirming that the outstanding conditions have been fulfilled, except for certain liens that will be released upon payment. Instructions for filling out the form include providing necessary details such as the involved parties, amounts, and dates, ensuring clarity and accuracy in the information. Additionally, it should be noted that the dates and signatures must be clearly indicated to validate the document. The utility of this form is significant for attorneys, partners, owners, associates, paralegals, and legal assistants involved in real estate transactions, as it provides a structured method of concluding obligations and ensuring the proper release of funds. Using this form helps protect all parties by clearly documenting the satisfaction of conditions, thus avoiding potential disputes.
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FAQ

Good or good enough for a particular need or purpose: a satisfactory outcome/result/solution. a satisfactory performance/progress.

Satisfactory. The doctor has viewed your results and has indicated that they are happy with the result. The laboratory may have marked your result as abnormal, but this is because it is just outside of the laboratory normal range.

If something's satisfactory it's okay — acceptable, but maybe not great. When you take a course pass/fail, your grade will be satisfactory if you meet all the requirements and do a reasonable job, or unsatisfactory if you don't. Try not to confuse satisfactory and satisfying.

"Satisfactory" means that something is adequate, or acceptable. Whereas "satisfying" means that something meets your needs or requirements and has positive associations.

Something that is satisfactory is acceptable to you or fulfils a particular need or purpose. I never got a satisfactory answer. It seemed a very satisfactory arrangement.

"Satisfying" is an adjective describing something that fulfills a need or provides contentment in an action or experience. "Satisfied" is the past participle of the verb "satisfy" and signifies the feeling of contentment or fulfillment in a person after their desires have been met.

If someone or something satisfies you, they give you enough of what you want or need to make you pleased or contented. To satisfy someone that something is true or has been done properly means to convince them by giving them more information or by showing them what has been done.

Examples of satisfactory in a Sentence The job requires a satisfactory level of performance. Results are less satisfactory than had been anticipated. He gave a satisfactory account of how the accident had happened. The movie was brought to a satisfactory close.

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Difference Between Satisfaction And Satisfactory In New York