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 New Hampshire Agreement for Accord and Satisfaction of an Undisputed Hospital Claim is a legal document that embodies an agreement between a hospital and a party involved in the claim process regarding the settlement of an undisputed claim. This agreement typically outlines the terms and conditions under which the hospital agrees to accept a settlement amount from the party in exchange for the satisfaction of the claim. The purpose of this agreement is to provide a resolution to disputes in a fair and efficient manner, avoiding the need for further legal proceedings. It is designed to protect the interests of both the hospital and the party involved, ensuring that the settlement amount is accepted as full and final payment for the undisputed hospital claim. The agreement may include various key elements such as: 1. Identification of the parties involved: The agreement specifies the names and contact details of the hospital and the party making the settlement payment. 2. Description of the claim: It includes a description of the undisputed hospital claim being settled, providing details such as the date of service, the medical procedures, and the amount claimed. 3. Settlement amount: The agreement stipulates the specific settlement amount agreed upon by the parties. This amount is intended to cover the undisputed portion of the claim, ensuring that all related hospital services have been adequately compensated. 4. Payment terms: The agreement outlines the terms of payment, including the mode of payment, the due date, and any conditions attached to the settlement amount. It may also specify whether any interest or penalties are applicable in case of late payment. 5. Release of claims: It typically includes a clause stating that upon receipt of the settlement amount, the hospital releases the party from any further liability or claims related to the undisputed hospital claim. This clause ensures that the settlement provides a final resolution to the claim. 6. Governing law: The agreement may specify that it is governed by the laws of the state of New Hampshire, ensuring that any disputes arising from the agreement would be resolved according to the state's legal framework. Regarding the different types of New Hampshire Agreement for Accord and Satisfaction of an Undisputed Hospital Claim, specific variations may exist based on factors such as the type of hospital, the nature of the claim, or specific contractual arrangements. However, the core elements discussed above are typically present in all such agreements, providing a common framework for the settlement of undisputed hospital claims in New Hampshire.
