The new terms might allow Company A to make more, smaller payments; to repay the debt at a lower interest rate; to repay an amount less than the original obligation; or some other arrangement.
If, for some reason, Company A does not deliver on the new terms, it may be liable for the original contract, because it did not satisfy the terms of the accord. Accord and satisfaction can be used as a form of compromise that benefits both parties when the original terms of a contract cannot be upheld for whatever reason. When an accord and satisfaction is reached to discharge a debt, the creditor still receives some payment of the debt, while the debtor benefits from not being held to the full obligation.
However, when the kitchen is complete, the homeowner finds the work shoddy and refuses to pay. Discharge In Bankruptcy Debt Discharge.
A satisfaction of mortgage is a document that confirms a mortgage Having a plan for retirement, including where you want to live, will help ensure a high quality of life when the time comes. And i like you We all have been loved, And we all have been lonely, Some of us feel the presence, More when it starts to ebb. And I've always felt myself overstaying my welcome, even before arrival. But I'd leave my pieces on your door, as an excuse for you to call me.
And i like you We are always looking for a replacement. Disguising our sadness with a new skin Trading one addiction for another; a vicious cycle. All these temporary fixes and the perpetual sadness. But you could be a detour from this dead-end I'm leading to.
This page was last edited on 13 July , at Privity of contract Assignment Delegation Novation Third-party beneficiary. Now being that at the time of this writing i am found to be of a young age, There are many accomplishments not yet succeeded. And I'm one of the many inked hearts. Part of the common law series. To illustrate, we use the example of renting a New York City apartment.
Fistful of mosaic desires, Confessions barely held in by my teeth Future is easier to swallow than salvage Your intoxicated lips smirk in agreement. All these loving hearts with eyes askance. But something tells me if i showed you my palm, you'd understand.
Will probably take a while to acknowledge the voice in my head saying And i like you or i can keep ignoring it, even if it's the most obvious thing. She felt the hate from him as strongly as if it were a tornado of barbed wire that was about to strangle her. Though she longs for it to not exist. The last message he sent confirming it more than she would like.
Now she is only the fool. He was only in love with the fantasy of who he wanted her to be.
He woke up it seems before it was too late. He was never truly in love with her. Now she prays to be able to forgive him for his betrayal. She warned him from the beginning that who ever married her had to take care of her.
She had a written agreement from the doctor that she couldn't work because of her chronic illness. So now she will be single forever. She prays that this time he'll find a women who he can be truly content with who she is. She prays that someday he will write poetry again so that she can see it. She prays that someday he won't hate her anymore. She prays that maybe someday in heaven they will be friends. She prays that God would perform many miracles in his heart. David John Mowers Dec An Essay on Credit.
It has become clear, since the Great Recession began, that the American banking and the political, "systems," are 'one-and-the-same' entity. Neither works for the majority of Americans but both appear to be working quite well, historically-compared, in fact, for the richest or most advantaged people. Life should model to become a, "heaven," on earth for all people not just those at the foremost of political benefit, wealth or talent.
This current state of affair is not what Plato envisioned.
It is not what the Founding Fathers intended. America should not be about exclusion and private benefit but the public as a whole and the individual inclusion; Every Man a King. Not Kings among the men who serve them No one wants to think they are taking something they do not deserve or someone is being forced to accept something they do not want yet it is clear by the recent election that the American people are fed-up and ready to start taking things away.
Naturally since they own this nation not the Fortune At a point greed undoes itself.
The technical distinction is no longer made, however, and a compromise of amount can properly be part of an accord and satisfaction. The amount can be a variety of other things, however, as when a homeowner claims that she ordered a swimming pool thirty-six feet long rather than thirty-five feet or when an employee insists that he is entitled to eleven rather than ten days of vacation during the rest of the calendar year. An accord and satisfaction can be made only by persons who have the legal capacity to enter into a contract.
A settlement is not binding on an insane person, for example; and an infant may have the right to disaffirm the contract. Therefore, a person, such as a guardian, acting on behalf of a person incapable of contracting for himself or herself may make an accord and satisfaction for the person committed to his or her charge, but the law may require that the guardian's actions be supervised by a court. An executor or administrator may bind an estate; a trustee can accept an accord and satisfaction for a trust; and an officer can negotiate a settlement for a corporation.
A third person may give something in satisfaction of a party's debt. In such a case, an accord and satisfaction is effected if the creditor accepts the offer and the debtor authorizes, participates in, or later agrees to, the transaction.
For example, a widower has an automobile accident but is mentally unable to cope with a lawsuit because his wife has just died. He gratefully accepts the offer of a close family friend to talk to the other driver, who has been threatening a lawsuit. The friend convinces the other driver that both drivers are at fault to some extent. The family friend and the other driver each sign a copy of the statement for the other, and when the payment is made, the accord and satisfaction is complete.
If the other driver then sues the widower for more money on account of the accident, the widower could show that he agreed to let his friend negotiate an accord and satisfaction, and the court would deny relief. An accord and satisfaction is a contract, and all the essential elements of a contract must be present. The agreement must include a definite offer of settlement and an unconditional acceptance of the offer according to its terms. It must be final and definite, closing the matter it covers and leaving nothing unsettled or open to question. The agreement may call for full payment or some compromise and it need not be based on an earlier agreement of the parties.