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 Utah Agreement for Accord and Satisfaction of an Undisputed Hospital Claim is a legal document that outlines the terms and conditions for resolving an undisputed hospital claim. This agreement is specific to the state of Utah and is designed to provide a framework for both hospitals and claimants to reach a mutually acceptable resolution. Keywords: 1. Utah: This agreement is specific to the state of Utah, indicating that it is bound by the laws and regulations of the state. 2. Agreement: This document represents a formal agreement between the hospital and the claimant, outlining the terms and conditions for resolving the claim. 3. Accord and Satisfaction: Accord refers to an agreement between parties to settle a disputed claim, while satisfaction occurs when the terms of the agreement are fulfilled. This term suggests that the parties are agreeing to resolve the claim through negotiation and payment. 4. Undisputed: This term indicates that both parties agree on the validity and amount of the claim. There is no disagreement regarding the charges or services provided by the hospital. 5. Hospital: Refers to the medical facility that provided services to the claimant and is seeking reimbursement for those services. 6. Claim: This represents the amount owed by the claimant to the hospital for medical services rendered. Different types: There may not be specific types of Utah Agreement for Accord and Satisfaction of an Undisputed Hospital Claim, as the document generally represents a standardized template or format for resolving undisputed claims in Utah. However, variations of this agreement can exist based on the specific hospital or healthcare system involved. In such cases, the agreement might bear the name of the hospital or healthcare system, indicating its uniqueness but still adhering to the general principles outlined in the standard Utah Agreement for Accord and Satisfaction of an Undisputed Hospital Claim.
