Accord and Satisfaction
Chicago's Legal Latte
English - December 19, 2023 16:00 - 13 minutes - 11.3 MB - ★★★★★ - 5 ratingsBusiness business law tax law family law estate planning real estate personal injury litigation Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
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If a business is disputing an amount owed to them from a customer or vendor they need to be careful about accepting and depositing payments that are labeled Payment in Full. Lavelle Law Shareholder Jennifer Tee discusses the legal concept of Accord and Satisfaction and outlines steps businesses should take when processing payments to prevent accepting payments that are less than what is owed.