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 Tennessee Agreement for Accord and Satisfaction of an Undisputed Hospital Claim is a legal document used to settle and resolve a hospital claim that is uncontested or undisputed. This agreement is applicable in the state of Tennessee and aims to provide a mutually acceptable arrangement between the hospital and the party responsible for the claim. Keywords: 1. Tennessee: This refers to the state where the agreement is valid and enforceable. 2. Agreement: The document is a legally binding agreement between the hospital and the responsible party. 3. Accord and Satisfaction: This legal term signifies that both parties have reached an agreement and have executed the necessary actions to settle the claim. 4. Undisputed: The claim, in this case, refers to a hospital bill or any outstanding charges that are not being contested or disputed by either party. 5. Hospital Claim: This refers to the bill or charges incurred by an individual for services received at a hospital. 6. Settlement: The agreement aims to provide a resolution to the claim by outlining the agreed-upon terms and conditions. 7. Uncontested: The fact that the claim is not disputed indicates that both parties are in agreement about the amount owed and the validity of the charges. Different types of Tennessee Agreement for Accord and Satisfaction of an Undisputed Hospital Claim: There may be variations of this agreement depending on the specific circumstances or parties involved. However, the key components of the agreement will remain consistent. The agreement may differ in terms of the parties involved, the specific hospital or medical facility, and any additional clauses or provisions that may be necessary to address unique situations. Each agreement will address the undisputed hospital claim as mentioned above, but the specific details and parties involved may vary.
