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Virginia – Accord and Satisfaction

According to Virginia courts, an accord and satisfaction relates to offer and acceptance.[i]  The acceptance may be implied, where the amount due is unliquidated, disputed, and a remittance of an amount less than that claimed is sent to the creditor with a statement that it is in full satisfaction of the claim, or is accompanied by such acts or declarations as amount to a condition that if accepted, it is accepted in full satisfaction, and the creditor accepts it with knowledge of such condition, then accord and satisfaction results.

The “accord” is the agreement that a debtor will give and the creditor will accept something in settlement of a disputed claim.[ii]    An accord and satisfaction does not result unless the debtor intends his/her offer as a satisfaction of the demand and such intention is clearly made known to the creditor and accepted by the creditor in accordance with the debtor’s intention.

[i] Virginia-Carolina Elec. Works v. Cooper, 192 Va. 78 (Va. 1951)

[ii] John Grier Constr. Co. v. Jones Welding & Repair, Inc., 238 Va. 270 (Va. 1989)

Inside Virginia – Accord and Satisfaction