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Owners should demand this release when they are paid in full. Some states allow an Unconditional Release upon final payment that is used to induce the final payment. It is an inherent vagary in the lien release law. In the United States, some states only use a conditional waiver on progress payment and an unconditional waiver on final payment.
Accord and satisfaction is a contract law concept about the purchase of the release from a debt obligation. It is one of the methods by which parties to a contract may terminate their agreement. The release is completed by the transfer of valuable consideration that must not be the actual performance of the obligation itself. [1]
An assignment does not necessarily have to be made in writing; however, the assignment agreement must show an intent to transfer rights. The effect of a valid assignment is to extinguish privity (in other words, contractual relationship, including right to sue) between the assignor and the third-party obligor and create privity between the obligor and the assignee. [1]
A California lawmaker is leading the charge to make undocumented residents eligible for a popular state-backed home loan program, weeks before it gives out another $250 million in down payment ...
California has paid out $8.4 billion of the $9.5 billion set aside for the Middle Class Tax Refund program, according to the Franchise Tax Board. Final California inflation relief payments are ...
Prince William has no doubt given Kate Middleton many gifts she cherishes over their more than two decades together — but one gift was apparently so “awful” that he’ll never live it down ...
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