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 Mississippi Agreement for Accord and Satisfaction of a Disputed Claim (i.e., Personal and Property Damages) for Negligence is a legally binding document that resolves a dispute arising from negligence causing personal and property damages. This agreement offers a solution where both parties agree to settle the claim in order to avoid further litigation. Keywords: Mississippi Agreement, Accord and Satisfaction, Disputed Claim, Personal Damages, Property Damages, Negligence. Types of Mississippi Agreements for Accord and Satisfaction of a Disputed Claim (i.e., Personal and Property Damages) for Negligence may include: 1. Individual Settlement Agreement: This agreement is used when an individual is seeking compensation for personal and property damages resulting from negligence. It outlines the terms of the settlement, including the agreed-upon amount, release of liability, and any conditions for fulfilling the agreement. 2. Business Settlement Agreement: In cases where a business entity or corporation suffers personal and property damages due to negligence, this agreement is utilized. It includes provisions specific to the business, such as loss of profits or damage to company assets. The terms of the settlement are negotiated between the parties involved. 3. Medical Malpractice Settlement Agreement: This type of agreement is used when a medical professional or healthcare facility is accused of negligence resulting in personal injuries or property damages. It may involve compensatory measures such as financial compensation, future medical treatments, or reimbursement for additional expenses incurred. 4. Automobile Accident Settlement Agreement: When an automobile accident occurs due to negligence, resulting in personal injuries or property damages, this agreement can be employed to settle the dispute. It outlines the agreed-upon compensation for medical expenses, vehicle repair costs, and any other related damages. 5. Premises Liability Settlement Agreement: In cases where a property owner is held responsible for negligence resulting in personal injuries or property damages suffered by individuals on their premises, this agreement can be used. It addresses the compensation for medical bills, property repairs, or any other damages caused. It is important to note that these are general categories within which various specific agreements can fall, depending on the unique circumstances of the dispute. Legal advice and guidance from an attorney are highly recommended ensuring compliance with Mississippi state laws and the specific needs of the parties involved.
