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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 Montana, 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 is typically used when there is a disagreement about the performance of a contract or the amount of a debt. Under Montana law, for an accord and satisfaction to be enforceable, there must be a bona fide dispute between the parties, an offer of payment (the 'accord') that is accepted by the other party, and the performance of the new agreement (the 'satisfaction'). The new agreement effectively replaces the original obligation and, once fulfilled, prevents any further claims on the original matter. This principle is codified in the Montana Code Annotated (MCA) under Title 28, Chapter 1, Part 17, which outlines the requirements and effects of an accord and satisfaction.

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Contracts

accord and satisfaction

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Contracts

accord and satisfaction