An accord and satisfaction is a legal term we face when an insurance company or
patient writes “paid in full” on the check which is also known as an instrument.
Some people do this in the belief that if they do this, they no longer owe anything
on their debt. An accord is an offer to settle the debt for an amount that is less than
what is owed. A satisfaction is an agreement to the accord. Some states have laws
that regulate an accord and satisfaction. For example, under Florida Law, the law
states the following:
673.3111 Accord and satisfaction by use of instrument.--
(1) If a person against whom a claim is asserted proves that that person in good
faith tendered an instrument to the claimant as full satisfaction of the claim, that
the amount of the claim was unliquidated or subject to a bona fide dispute, and
that the claimant obtained payment of the instrument, the following subsections
apply.
(2) Unless subsection (3) applies, 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.
(3) Subject to subsection (4), a claim is not discharged under subsection (2) if
either paragraph (a) or paragraph (b) applies:
(a) The claimant, if an organization, proves that:
1. Within a reasonable time before the tender, the claimant sent a conspicuous
statement to the person against whom the claim is asserted that communications
concerning disputed debts, including an instrument tendered as full satisfaction of
a debt, are to be sent to a designated person, office, or place; and
