Q&As

Is a settlement agreement in the form of a letter signed on behalf of both parties sufficient to terminate a sale contract?

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Published on LexisPSL on 31/07/2017

The following Property Q&A provides comprehensive and up to date legal information covering:

  • Is a settlement agreement in the form of a letter signed on behalf of both parties sufficient to terminate a sale contract?
  • Total discharge—accord and satisfaction
  • Accord

Is a settlement agreement in the form of a letter signed on behalf of both parties sufficient to terminate a sale contract?

A contract may be wholly discharged by agreement as follows:

  1. where one party releases the other from its obligations by deed (release)

  2. the parties agree to compromise a contractual claim on agreed terms (accord and satisfaction)

  3. an executory agreement is rescinded by mutual agreement (rescission)

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