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.
The Missouri Agreement for Accord and Satisfaction of an Undisputed Hospital Claim is a legal document designed to settle a hospital claim that is undisputed by both parties. It serves as a contract between a hospital and a patient (or their insurance company) to resolve any outstanding financial obligations related to medical services provided. This agreement is rooted in the concept of "accord and satisfaction," which is a legal theory that enables parties to settle a debt for less than the originally agreed-upon amount. By signing this agreement, both the hospital and the patient agree to the terms and conditions set forth within it, effectively ending any further dispute regarding the outstanding claim. The Missouri Agreement for Accord and Satisfaction of an Undisputed Hospital Claim contains several key elements. Firstly, it identifies the parties involved, including the hospital, patient, and any relevant insurance company. It also includes details about the specific hospital claim being addressed, such as the claim number, date of service, and a description of the medical services provided. The agreement outlines the total amount of the claim and specifies the discounted amount that will be accepted as full payment. This discounted amount could be a percentage reduction or a specific dollar amount, depending on the circumstances. The document also provides information on the method of payment, such as cash, check, or credit card, and the deadline by which the payment must be made to satisfy the settlement. Additionally, the Missouri Agreement for Accord and Satisfaction of an Undisputed Hospital Claim may include provisions related to confidentiality, release of liability, and any future claims. These clauses ensure that both parties are aware of their rights and responsibilities, and that the settlement is a final resolution of the matter. It is important to note that specific types or variations of this agreement may exist, depending on the hospital or healthcare facility involved. Different hospitals may have their own versions or variations of the Missouri Agreement for Accord and Satisfaction, tailored to their specific policies and requirements. Overall, the Missouri Agreement for Accord and Satisfaction of an Undisputed Hospital Claim is a legally binding document that provides a structured framework for hospitals and patients to settle undisputed medical claims. By signing this agreement, both parties can achieve closure on the matter and avoid further disputes or legal actions.
