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Form #844General Forms of Compromises
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General Forms of Compromises - Free Legal Form
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General forms of
compromises.
A defaulted in payments of _________ notes for $_____
each, one of which was due on _________[date], another on _________[date],
and another on _________[date], all mentioned in a contract of lease and
sale dated _________, made between A and B.
B, on _________[date], elected to terminate
that contract as of _________[date] on account of the default.
A, on _________[date], paid several promissory
notes in full together with all taxes due on _________ for year _________, and
also an additional indebtedness to B of $_____, evidenced by past due
promissory note of _________ with interest.
There is a controversy between A and B as to effect of
such payment on the contract in which controversy A claims that _________[claims
of A], and B claims that _________[claims of B].
By way of compromise and settlement of controversy, it
is agreed that A shall pay to B $_____ to cover damages incurred by B other
than _________ and will also pay h— $_____ according to tenor and effect of _________ promissory notes of
_________. In consideration of such payments B sets aside and annuls such
defaults and restores contracts to status they would have occupied had no
defaults occurred.
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that no legal advice, accounting, or other professional service is being offered
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acceptable in one state may not be enforced the same way under the laws of another
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