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in een akkoord

English translation: compromise / settlement / composition

19:36 Jul 9, 2002
Dutch to English translations [Non-PRO]
Law/Patents
Dutch term or phrase: in een akkoord
De hele zin luidt: Voorts is een vaststellingsovereenkomst getroffen met de volgende partijen, waarbij afspraken zijn gemaakt over de vaststelling van de door die partijen in te dienen en te erkennen vorderingen in de sureceance:
- met XXXX voor een zodanig bedrag dat de uitkering in een akkoord voor deze partij £XXXX zal zijn
Willemina Hagenauw
Local time: 07:45
English translation:compromise / settlement / composition
Explanation:
-> by way of compromise

Akkoord in this sense refers to a form of compromise payment, referred to in legal terms as a composition or a settlement. The party receiving the payment is probably owed a lot more, but - because he knows the other party is in financial dire straits - he accepts a lower payment so that he recoups at least some of the payment due.

Incidentally, the term "offer in compromise" is often used when the creditor is a tax administration.
Selected response from:

Chris Hopley
Netherlands
Local time: 08:45
Grading comment
Thanks for that Chris! I will go with settlement - it seems the right word for the context here.

Willemina
4 KudoZ points were awarded for this answer



Summary of answers provided
4in full accord
jerryk (X)
4compromise / settlement / composition
Chris Hopley


  

Answers


37 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
in full accord


Explanation:
Very commonly used in legal and extra-legal contexts.

jerryk (X)
PRO pts in pair: 11
Login to enter a peer comment (or grade)

2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
compromise / settlement / composition


Explanation:
-> by way of compromise

Akkoord in this sense refers to a form of compromise payment, referred to in legal terms as a composition or a settlement. The party receiving the payment is probably owed a lot more, but - because he knows the other party is in financial dire straits - he accepts a lower payment so that he recoups at least some of the payment due.

Incidentally, the term "offer in compromise" is often used when the creditor is a tax administration.


    Het Juridisch Lexicon, A. van den End
Chris Hopley
Netherlands
Local time: 08:45
Native speaker of: English
PRO pts in pair: 2117
Grading comment
Thanks for that Chris! I will go with settlement - it seems the right word for the context here.

Willemina
Login to enter a peer comment (or grade)



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