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Accord 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.
The good news is that there are solutions to help you get a handle on your debt. Debt consolidation, for example, allows you to borrow money to pay off your current debts. Ideally, debt ...
For example, you might owe $4,000 between charges, interest and fees on your credit card, but you ask the bank to accept $2,500 to settle the account in full. ... Decide if a lump-sum settlement ...
While debt settlement may free you from a never-ending cycle of minimum payments, it will negatively affect your credit score, and by the time you can consider debt settlement, your credit score ...
The American Bar Association has published advice on negotiations of construction contracts: that (1) owners try to get contractors to indemnify as much as possible and for (2) contractors (a) indemnify only for their own negligence and (b) "establish a right but not a duty for the contractor to defend under an indemnification claim." [24]
A term is a condition (rather than an intermediate or innominate term, or a warranty), in any of the following five situations: (1) statute explicitly classifies the term in this way; (2) there is a binding judicial decision supporting this classification of a particular term as a "condition"; (3) a term is described in the contract as a ...
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