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Disputed Account Settlement template - Download from Accounting and Finance-Accounts

 
Home>Accounting and Finance> Accounts
Accounting and Finance
 
 
Document Sample
Document Description
Parties may agree to a different performance of a contract 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 a bona fide dispute; an agreement to settle the dispute; and the performance of the agreement. The parties might settle for less than the amount called for under the contract.
 
 
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