Washington Agreement for Accord and Satisfaction of Obligation under Stock Purchase Agreement

State:
Multi-State
Control #:
US-1340734BG
Format:
Word; 
Rich Text
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Description

A stock purchase agreement is an agreement that two parties sign when shares of a company are being bought or sold.
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  • Preview Agreement for Accord and Satisfaction of Obligation under Stock Purchase Agreement
  • Preview Agreement for Accord and Satisfaction of Obligation under Stock Purchase Agreement
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FAQ

And satisfaction refers to the agreement () between two contracting parties to accept alternate performance to discharge a pre-existing duty between them and the subsequent performance (satisfaction) of that agreement. The new performance is called the .

And satisfaction is a settlement of an unliquidated debt. For example, a builder is contracted to build a homeowner a garage for $35,000. The contract called for $17,500 prior to starting construction, to disburse $10,000 during various stages of construction, and to make a final payment of $7,500 at completion.

A provision in a contract that makes one party's performance conditional on the satisfaction of the other party.

An and satisfaction occurs when the parties involved in a dispute reach a new agreement to resolve the dispute. This agreement may involve a compromise, such as a payment of less than the full amount owed or a release of certain claims.

A release is a abandonment of a right, which may be given gratuitously (for free) or for inadequate consideration, while an and satisfaction is the discharge of a debt or claim by the acceptance of some payment which is agreed to constitute full satisfaction Holman v. Simborg, 152 Ill. App.

And satisfaction refers to the agreement () between two contracting parties to accept alternate performance to discharge a pre-existing duty between them and the subsequent performance (satisfaction) of that agreement.

Satisfaction is the fulfillment of an obligation. The term is often used in the context of contract law when one performs their duties under the contract. The term is also often found in the context of judgments in determining whether a party discharged their liability from a judgment.

Under most state law, a valid and satisfaction requires four elements as a minimum, usually, (1) proper subject matter, (2) competent parties, (3) meeting of the minds of the parties and (4) adequate consideration.

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Washington Agreement for Accord and Satisfaction of Obligation under Stock Purchase Agreement