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 Oregon Agreement for Accord and Satisfaction of a Disputed Claim is a legal document used to resolve disputes related to personal and property damages resulting from negligence in the state of Oregon. This agreement is designed to provide a mutually acceptable resolution for all parties involved in the dispute. Keywords: Oregon, Agreement for Accord and Satisfaction, Disputed Claim, Personal Damages, Property Damages, Negligence There are different types of Oregon Agreement for Accord and Satisfaction of a Disputed Claim for negligence, depending on the specific circumstances of the incident. Some common types include: 1. Personal Injury Agreement: This type of agreement is used when an individual has suffered physical harm or emotional distress due to someone else's negligence. It outlines the terms of compensation for medical expenses, pain and suffering, lost wages, and other damages related to the personal injury. 2. Property Damage Agreement: This agreement is used when negligent actions have caused damage to someone's property. It outlines the terms of compensation for repairing or replacing the damaged property, as well as any additional costs incurred due to the incident. 3. Auto Accident Agreement: This type of agreement is specific to accidents involving vehicles. It covers personal injuries, property damages, and any related expenses resulting from the negligent operation of a vehicle. 4. Premises Liability Agreement: This agreement is used when a person is injured or sustains property damage due to negligence on someone else's property. It outlines the terms of compensation for injuries, medical expenses, property damages, and any other losses incurred. 5. Product Liability Agreement: This agreement is specific to cases where a person is harmed due to a defective or dangerous product. It outlines the terms of compensation for injuries, medical expenses, property damages, and any other losses resulting from the product's negligence. It's important to note that the terms of the Oregon Agreement for Accord and Satisfaction of a Disputed Claim may vary depending on the specific details of each case. Furthermore, it is essential to consult with a legal professional to ensure that the agreement adequately addresses the situation and protects the rights and interests of all parties involved.
