Agreement Satisfaction With Judgment In Phoenix

State:
Multi-State
City:
Phoenix
Control #:
US-00436BG
Format:
Word; 
Rich Text
Instant download

Description

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.

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FAQ

A judgment becomes dormant and unenforceable when seven years lapse after the granting of the judgment, but may be revived by an additional entry within seven years from the initial judgment. Ga. Code Ann. § 9-12-60.

Judgments may be classified as in personam, in rem, or quasi in rem. An in personam, or personal, judgment, the type most commonly rendered by courts, imposes a personal liability or obligation upon a person or group to some other person or group.

Satisfaction of a judgment means that the judgment is no longer a lien on the debtor's real property. The courts cannot control the actions of third parties, but usually, the fact of satisfaction is recorded by the major credit reporting agencies and included in the debtor's credit history.

Judgment Debtor Exam: This Supplemental Proceeding is held to obtain information about the assets and relevant information you need to help you in collecting. You may have the Debtor appear or a person (party) who has knowledge of the Debtors assets.

The Maricopa County Justice Courts have a bench best practice stating, "A judge should apply garnishment law based on the date the plaintiff filed the Writ of Garnishment." In other words, "For Writs filed before December 5, 2022, the maximum earnings that may be garnished is 25% (which can be reduced to 15% by the ...

A certified copy of the judgment of any court in this state may be filed and recorded in the office of the county recorder in each county where the judgment creditor desires the judgment to become a lien on the real property of the judgment debtor.

Once a landlord has been awarded a judgment, the only way a tenant can stay in the rental unit is by working out an agreement with the landlord or filing an appeal of the judgment and paying a supersedeas bond. Any post-judgment agreements should be in writing and signed by the landlord. Keep a copy of any agreement.

There are 2 primary methods to collect a debt: Writ of Garnishment or Writ of Execution. Writ of Garnishment is often referred to as garnishing a debtor's wages. A written notice is served to both the debtor and the debtor's employer or financial institution.

Arizona Eviction Time Estimates ActionDuration Issuance of writ of restitution 1-5 days after judgment Execution of writ/time to quit after writ is posted As soon as possible Storage period 14 days Total 1-4 weeks5 more rows •

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Agreement Satisfaction With Judgment In Phoenix