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 Oregon, 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 made by competent parties. According to Oregon law, specifically ORS 73.0318, if a person against whom a claim is asserted proves that they in good faith tendered an instrument to the claimant as full satisfaction of the claim, and the amount of the claim was unliquidated or subject to a bona fide dispute, and the claimant obtained payment of the instrument, the claim is discharged if the person against whom the claim is asserted proves that the instrument or an accompanying written communication contained a conspicuous statement to the effect that the instrument was tendered as full satisfaction of the claim. This is a form of compromise where the parties avoid litigation by settling on terms that are acceptable to both, even if it means the creditor receives less than the full amount originally owed or the debtor undertakes different obligations. An attorney can help draft the terms of an accord and satisfaction to ensure that it is legally binding and enforceable in Oregon.

Legal Articles

State Statutes

Individual & Family Legal Plan

As a LegalFix member, you'll get expert legal services from a local law firm that treats you like an important client. Don't wait—be prepared for life's inevitable legal challenges starting today. And ask your employer, credit union, or membership group about preferred pricing opportunities.

Contracts

accord and satisfaction

Individual & Family Legal Plan

Articles

Oregon State Code

Contracts

accord and satisfaction

Articles

Oregon State Code