Select your state

Creditor / Debtor

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 Florida, 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 Florida law, for an accord and satisfaction to be valid, 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 terms. This principle is codified in Florida Statutes, specifically under Chapter 673 which deals with negotiable instruments, but the concept can apply broadly to other contractual disputes as well. It is important to note that both parties must clearly understand and agree to the new terms for an accord and satisfaction to be enforceable.

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.

Creditor / Debtor

accord and satisfaction

Individual & Family Legal Plan

Articles

Florida State Code

Florida State Code

Creditor / Debtor

accord and satisfaction

Articles