Accord and Satisfaction

On the advice of PeeWee, the little indoor cat next door, the cats consulted the Jack Rabbit’s attorney in Portland, who recommended that the cats attempt to settle with Bowser, who had obtained a default judgment against the cats.  The only problem with this advice is that the cats don’t have any money, and they don’t have the creditworthiness needed to borrow any.  The cats attempted to reach their San Francisco attorneys for a second opinion, but their attorneys wouldn’t take their call because the cats had failed to pay a bill for $237.50 for a letter that their lawyers sent to a local movie theater demanding a refund of the price of admission paid by the cats for an animated film that the cats walked out of because it portrayed a feline as being scheming.  Reluctantly, they consulted me.

I suggested that the cats attempt to reach an accord and satisfaction with Bowser by offering to convey to him a one-third interest in the condo that the three of us own on the coast in Yachats, as tenants in common, one-third each, to satisfy the judgment.  One-third of the equity in the condo would be about equal to the amount of the judgment.   The cats could each convey to Bowser half of the one-third owned by each of them so that in the end they would each own one-sixth of the condo, and Bowser and I would each own one-third.  The cats had become somewhat disenchanted with the condo when they discovered that there were no French cats in Yachats so they were willing to make this offer to Bowser, who liked to go to the coast and to run up and down on the beach.  The cats asked me to prepare the accord and satisfaction agreement, by which Bowser would agree to satisfy the judgment in exchange for a one-third ownership interest in the condo.

I mentioned to the cats that we would have to eliminate the restrictive covenant that we had placed on the condo, at their request, prohibiting any dog from being allowed on the premises.   I saw a certain glint in the cats’ eyes when I said this.  I cautioned them that if they failed to remove the restrictive covenant and failed to disclose the existence of the restrictive covenant to Bowser, I wouldn’t feel comfortable preparing the agreement. They said that they were going to pay their bill with their San Francisco attorneys and have them prepare the agreement, and that I was not to say anything to Bowser about the restrictive covenant as this was confidential information which, as my clients, they had the right to demand remain confidential.  I shook my head in dismay.

Allen Drescher has practiced law in Ashland and Southern Oregon since 1973.   His practice areas include real property and business law, estate planning and elder law.

© Allen Drescher

Show More

Drescher Elson Sperber, P.C.

Drescher Elson Sperber, PC. A law firm providing legal services in Ashland and Southern Oregon since 1973 in the areas of real estate, business law, estate planning, small business corporations, LLC's, partnerships, nonprofit corporations, guardianships, conservatorships, wills, trusts, probate, leases, property and business transactions and disputes, and related areas of the law.21 South Second St. Ashland, OR 97520

Related Articles

Check Also
Back to top button