Was there a meeting of the minds by the parties?
The actual amount of money it would take to make the plaintiff whole. Did the plaintiff make insurance premium payments or was the plaintiff to receive a certain amount of insurance proceeds?
Offer and acceptance, sometimes also called 'meeting of the minds' is a fundamental part to a contract. Without it, we might bind parties to contracts who did not want or intend to be party to the contract.
To constitute an accord and satisfaction, there must have been a genuine dispute that is settled by a meeting of the minds with an intent to compromise. Where there is an actual controversy, an accord and satisfaction may be used to settle it.
This occurs when one of the negotiators tacks on additional components to the deal after a meeting of the minds has been reached.
The agreement must be "mutual" (all parties have the same understanding of the meaning of their agreement -- there is a "meeting of the minds"); ...
 See also: Fraud, Arbitration, Offer and acceptance, Bargain, Common law
  
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