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accord and satisfaction | Wex | US Law | LII / Legal Information Institute
https://www.law.cornell.edu/wex/accord_and_satisfaction
WEBAccord and satisfaction refers to the agreement (accord) between two contracting parties to accept alternate performance to discharge a pre-existing duty between them and the subsequent performance (satisfaction) of that agreement. …
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What Does Accord and Satisfaction Mean in a Legal Contract? - Investopedia
https://www.investopedia.com/terms/a/accord-and-satisfaction.asp
WEBAug 27, 2021 · Key Takeaways. An accord and satisfaction is a new agreement that suspends the terms of an existing agreement in favor of a new one. The accord is the agreement on the new terms...
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Accord and satisfaction - Wikipedia
https://en.wikipedia.org/wiki/Accord_and_satisfaction
WEBAccord and satisfaction. Accord and satisfaction is a contract law concept about the purchase of the release from a debt obligation. It is one of the methods by which parties to a contract may terminate their agreement. The release is completed by the transfer of valuable consideration that must not be the actual performance of the obligation ...
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Accord and Satisfaction - The Basics | Stimmel Law
https://www.stimmel-law.com/en/articles/accord-and-satisfaction-basics
WEBThe Basics: Usually, accord and satisfaction deals with a debtor’s offer of payment and a creditor’s acceptance of a lesser amount than the creditor originally claimed to be owed. It is a method of discharging a claim by settlement of …
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Accord and Satisfaction Example: Everything You Need to Know
https://www.upcounsel.com/accord-and-satisfaction-example
WEBFeb 1, 2023 · Accord and satisfaction is a term in contract law that refers to the acceptance of some new form of compensation in place of the original obligation that was created by a contract. Essentially, accord and satisfaction is a contract within a contract.
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Accord and Satisfaction: To Release, or Not Release? That is the
https://www.bradley.com/insights/publications/2022/08/accord-and-satisfaction-to-release-or-not-release-that-is-the-question
WEBAug 4, 2022 · Generally, an “accord and satisfaction” is an agreement between two or more contracting parties to accept an alternate agreement and performance in lieu of a preexisting contractual duty between the parties.
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Accord and Satisfaction: To Release, or Not Release? That is the
https://www.lexology.com/library/detail.aspx?g=72cc0ca8-9392-4b6b-b76e-7ed40bf3a613
WEBAug 4, 2022 · An accord and satisfaction oftentimes uses language that operates as a release, such as “this payment (or alternate performance) is in full satisfaction of the obligations under the contract.”
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Accord and Satisfaction Lawyers | LegalMatch
https://www.legalmatch.com/law-library/article/accord-and-satisfaction.html
WEBJun 16, 2022 · What Are Accord and Satisfaction? Accord and satisfaction is a compromise between a debtor and a creditor to release the debtor from the original debt obligation in exchange for a new payment. Typically, the new payment is less than the full amount owed and does not satisfy the original debt but is accepted in place of the …
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accord and satisfaction Definition, Meaning & Usage | Justia …
https://dictionary.justia.com/accord-and-satisfaction
WEBaccord and satisfaction - An arrangement where a person agrees to accept less than what they're owed as a final settlement. By making this deal and receiving the reduced payment, the original debt is considered settled and erased.
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Accord and satisfaction - Oxford Reference
https://www.oxfordreference.com/display/10.1093/oi/authority.20110803095346341
WEB4 days ago · Overview. accord and satisfaction. Quick Reference. A device enabling one party to a contract to avoid an obligation that arises under the contract, provided that the other party agrees. The accord is the agreement by which the contractual obligation is discharged and the satisfaction is the consideration making the agreement legally …
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