Compromise and Settlement regarding Breach of Sales Contract by pellcity27

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A compromise is an agreement to terminate, by means of mutual concessions, a controversy over a claim that is disputed in good faith or unliquidated. A settlement, in this context, refers to the performance of the promises contained in a compromise agreement.

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									          Compromise and Settlement regarding Breach of Sales Contract


        Agreement made on the (date), between (Name of Claimant), a corporation organized
and existing under the laws of the state of ______________, with its principal office located at
(street address, city, state, zip code), referred to herein as Claimant, and (Name of Opponent),
a corporation organized and existing under the laws of the state of ______________, with its
principal office located at (street address, city, state, zip code), referred to herein as Opponent.

        Whereas. Claimant asserts a claim against Opponent based on Opponent's failure to
perform according to the terms and conditions of a sales contract executed by the parties on
(date), under the terms of which Opponent was to purchase from Claimant (quantity or units) of
(type of goods) at a total cost of $___________. Opponent has taken delivery of and paid for
________% of the goods, but refuses to accept or pay for the remainder. Claimant believes, in
good faith, that Claimant is entitled to damages of $____________.

         Whereas, Opponent believes, in good faith, that Opponent has the right to cancel the
remainder of the order for the following reason: (describe reaso
								
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