Question

Oren and pat are parties to a contract for the management of oren's residential rental properties. a dispute arises between them over the obligations due under the contract. they negotiate a compromise and form a different agreement to substitute for the original one. this settlement agreement does not require

Answer 1

A compromise, or settlement agreement, that arises out of a genuine dispute over the obligations under an existing contract will be recognized at law. The agreement will be substituted as a new contract when there is the agreement by the parties to the new contract and will either expressly revoke and discharge the obligations under the prior contract.  It does not require the intervention of the law.