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.
The District of Columbia Agreement for Accord and Satisfaction of a Disputed Claim (i.e., Personal and Property Damages) for Negligence is a legally binding document used to settle a dispute arising from negligence-related personal and property damages in the District of Columbia. This agreement serves as a means for the parties involved to reach a resolution without resorting to litigation. Keywords: District of Columbia, Agreement for Accord and Satisfaction, Disputed Claim, Personal Damages, Property Damages, Negligence. There are different types of District of Columbia Agreement for Accord and Satisfaction of a Disputed Claim (i.e., Personal and Property Damages) for Negligence, which can employ similar language and structure but may vary based on the specific circumstances and parties involved. Some common variations include: 1. Complete Release Agreement: This type of agreement provides a comprehensive settlement and release of all claims related to personal and property damages caused by negligence. It ensures that both parties involved agree to release each other from any further liability for the incident. 2. Limited Release Agreement: In certain cases, the parties may agree to a partial settlement, where only specific claims or damages are resolved, while others remain open for further negotiation or legal action. 3. Conditional Release Agreement: This type of agreement allows for the settlement to be contingent upon certain conditions or requirements being met by one or both parties. It ensures that the agreement will only be binding if specific terms are fulfilled. 4. Joint Contribution Release Agreement: When multiple parties are involved in a negligence dispute, this agreement is used to settle the claim. It ensures that all responsible parties contribute their fair share of compensation to the affected party, proportionate to their share of liability. 5. Confidential Settlement Agreement: Occasionally, parties may want to ensure the terms and details of their settlement remain confidential. In such cases, a confidential settlement agreement is utilized, preventing the disclosure of sensitive information related to the claim or settlement. It's important to note that these variations are not exhaustive, and the specific content and terms of a District of Columbia Agreement for Accord and Satisfaction of a Disputed Claim (i.e., Personal and Property Damages) for Negligence will depend on the unique circumstances of each case. Consulting with an attorney experienced in personal injury and negligence law is essential to ensure the agreement meets the legal requirements and protects the interests of all parties involved.
