A third party can give something to the satisfaction of a party`s debts. In this case, an agreement and satisfaction are made when the creditor accepts the offer and the debtor authorizes, participates in or consents to the transaction at a later date. It is possible to reach an agreement and satisfaction in which the owner agrees to pay $3,000; he or she gets a discount on the price of the kitchen in exchange for a dirty kitchen, and renounces his right to sue. The contractor pays 5,000 $US to avoid being sued by the owner of the house, and gives him the right to sue for the entirety of $8,000. Both sides are giving up something to limit their liability downwards. In addition, the Tribunal found that the defendants had not invoked a replacement contract because the defendants ”did not claim that in entering into the transaction agreement, they had quashed the underlying undertaking – an allegation necessary to assert a replacement contract.” McDowell, 348 Gold. 283-84 (referring to Abrahamso v. Brett, 143 Gold. 14, 24, 21 p. 2d 229 (1933)). The Court also found that, contrary to an enforcement agreement, theories of compliance and satisfaction and the substituted treaty are legal and not just theories. ”. .
. what is given or agreed is offered as satisfaction and erasure of the original debt: that the debtor intended to satisfy that obligation and that this intention be communicated to the creditor in an indisputable manner. It is equally important that the creditor accepted it with the intention that it should offer as a satisfaction. Gene. Constr. Co. v. Ore. Fish Comm., 26 Gold.App. 577, 582, 554 p.2d 185 (1977) (citing Lenchitksy v. J.
J. Sandberg Co., 217 Or. 483, 343 P.2d 523 (1959)). This article discusses the differences between these three theories and also discusses ORS 73.0311, an important status that regulates compliance and satisfaction with negotiable instruments. ”Negotiating an instrument marked ”fully paid,” ”fully paid,” ”full payment of a claim,” or a term of similar service, or negotiating an instrument with a statement containing such words or words of similar meaning, does not create the compliance and satisfaction that engages the beneficiary or prevents the recovery of a remaining amount due to the underlying undertaking unless the beneficiary himself , or by an official or staff member who is effectively empowered to settle claims, agrees in writing to accept the amount specified in the legal act as a full payment of the undertaking. The Supreme Court considered whether the accused had entered into an enforcement agreement, an agreement and a satisfaction or replacement contract.