Select your state

Contracts

accord and satisfaction

Accord and satisfaction is an enforceable agreement in which the parties agree to discharge a contract, claim, or obligation on terms that differ from the original terms of the contract, claim, or obligation.

In Illinois, accord and satisfaction is a legal concept that allows parties to settle a dispute by agreeing to terms that are different from the original contract or obligation. This agreement must be voluntary and involve the offer of something of value in resolution of a claim, which the other party accepts in substitution of the original obligation. The new agreement (the 'accord') and the performance of the new obligation (the 'satisfaction') effectively discharge the original contract or claim. Illinois courts require that there be a bona fide dispute as to the original obligation, and the offer of partial payment must be clearly communicated as being in full satisfaction of the disputed amount. Once the accord and satisfaction is completed, the original claim cannot be revived. This principle is codified in the Illinois Compiled Statutes under 810 ILCS 5/3-311, which aligns with the general principles of the Uniform Commercial Code regarding negotiable instruments.

Legal Articles

State Statutes

As a LegalFix Member You Will Be an Important Client of Local Law Firms

For about 82¢ a day you can have a LegalFix Legal Plan that includes initial consultations with an attorney at no additional charge—and additional legal services at reduced rates—all from top law firms in your state. Don't wait—be prepared for life's inevitable legal challenges, starting today.

And ask your employer, credit union, or membership group to offer LegalFix for even better pricing.

Contracts

accord and satisfaction

As a LegalFix Member You Will Be an Important Client of Local Law Firms

Articles

Illinois State Code

Illinois State Code

Contracts

accord and satisfaction

Articles