Accordance and Satisfaction

What does Accordance and Satisfaction mean?  I ask because if the Oil & Gas Company sends funds to me and if upon further review, it is determined that they owe me additional funds, I want to be able to collect those funds that are owed to me.  If the Accordance and Satisfaction statement does not apply, what is suggested that I say to them?

TIA.

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Permalink Reply by Skip Peel - Mineral Consultant on September 11, 2018 at 11:52

LN, please post the exact text.

Permalink Reply by LN on September 11, 2018 at 12:52

Hi Skip,

I read somewhere that is an O&G Company sends funds to you, but later on, you discover that they made a mistake and owe you more money, this statement will allow you to pursue what is additionally owed to you.  I guess what I am looking for isfor some sort of protection that will allow me to accept any money that is sent to me but also allow me to litigate any extra funds that the O&G Co. may have overlooked and did not pay me.  (Please forgive my rambling...I'm stating this all in laymen's terms).

TIA!

Permalink Reply by Skip Peel - Mineral Consultant on September 11, 2018 at 12:54

A question for an experienced O&G attorney.  The specific details matter.

Permalink Reply by LN on September 11, 2018 at 12:58

Thanks again my friend.

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