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  2. ACORD - Wikipedia

    en.wikipedia.org/wiki/ACORD

    Originally named Agent Company Operations Research and Development (ACORD), the organization's initial goal was to standardize the many proprietary forms being used by carriers for new business and claims submission. [2] In the late 1970s, ACORD began developing electronic standards to complement its form standards.

  3. Accord and satisfaction - Wikipedia

    en.wikipedia.org/wiki/Accord_and_satisfaction

    Accord and satisfaction is a settlement of an unliquidated debt. For example, a builder is contracted to build a homeowner a garage for $35,000. The contract called for $17,500 prior to starting construction, to disburse $10,000 during various stages of construction, and to make a final payment of $7,500 at completion.

  4. Set-off (law) - Wikipedia

    en.wikipedia.org/wiki/Set-off_(law)

    In law, set-off or netting is a legal technique applied between persons or businesses with mutual rights and liabilities, replacing gross positions with net positions. [1] [2] It permits the rights to be used to discharge the liabilities where cross claims exist between a plaintiff and a respondent, the result being that the gross claims of mutual debt produce a single net claim. [3]

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    Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!

  6. Contract - Wikipedia

    en.wikipedia.org/wiki/Contract

    Neither is available as of right and in most jurisdictions and most circumstances a court will not normally order specific performance. A contract for the sale of real property is a notable exception. In most jurisdictions, the sale of real property is enforceable by specific performance.

  7. Agent of record - Wikipedia

    en.wikipedia.org/wiki/Agent_of_Record

    An insured party wishing to change insurance agent(s) must submit a revised agent of record letter [1] to the respective insurer authorizing said insurer to release the insured party's information and discuss the insured party's coverage with the newly appointed agent.

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