Accord and Satisfaction: Simple Guide for Business and Law
Accord and Satisfaction: Simple Guide for Business and Law
3 months ago
cgaa.org
ACCORD & SATISFACTION How to Lawfully Settle a Disputed Claim with a Money Order What this is: A contract-law settlement using a negotiable instrument under UCC § 3-311 — not a security, not a banking theory. WHEN IT APPLIES ✔ Bona fide dispute exists ✔ Good-faith settlement offer ✔ Clear, conspicuous condition ✔ Creditor has notice ✔ Instrument is negotiated WHAT TO WRITE ON THE MONEY ORDER “TENDERED IN FULL SATISFACTION OF ALL CLAIMS RELATED TO ACCOUNT #____.” (Keep it simple. One clear condit
0:15
ACCORD & SATISFACTION How to Lawfully Settle a Disputed Claim with a Money Order What this is: A contract-law settlement using a negotiable instrument under UCC § 3-311 — not a security, not a banking theory. WHEN IT APPLIES ✔ Bona fide dispute exists ✔ Good-faith settlement offer ✔ Clear, conspicuous condition ✔ Creditor has notice ✔ Instrument is negotiated WHAT TO WRITE ON THE MONEY ORDER “TENDERED IN FULL SATISFACTION OF ALL CLAIMS RELATED TO ACCOUNT #____.” (Keep it simple. One clear condit
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