accord and satisfaction

listen to the pronunciation of accord and satisfaction
الإنجليزية - التركية
(Kanun) mahkeme dışı anlaşma
الإنجليزية - الإنجليزية
agreement whereby both sides waive part of their claims (Law)
A means of discharging a contract or cause of action by which the parties agree (the accord) to alter their obligations and then perform (the satisfaction) the new obligations [ITDS]
Annual report
A method of discharging a claim upon agreement by the parties to give and accept something in settlement of the claim
The settlement of an obligation An accord is an agreement by a creditor to accept less than bargained for from a debtor The creditor's acceptance of the accord constitutes satisfaction of the debt
An agreed-to substitution of a different performance for the original obligation, the accord being the agreement and the satisfaction the execution or performance
the settlement of a debt by paying less than the amount demanded in exchange for extinguishing the debt
A settlement agreement by which a claim is satisfied and discharged
A substitution of another agreement between the parties in satisfaction of a former one, and execution of the new agreement
An agreement ("accord"), and the performance thereof ("satisfaction"), which resolves and discharges a claim; may be stated between the parties or implied by law
A term of contract law by which one party, having complied with its obligation under a contract, accepts some type of compensation from the other party (usually money and of a lesser value) in lieu of enforcing the contract and holding the other party to their obligation This discharges the contract The definition cited by lawyers is usually that found in British Russian Gazette & Trade Outlook Ltd v Associated Newspapers Ltd (1933) 2 K B 616: "Accord and satisfaction is the purchase of a release from an obligation arising under contract or tort by means of any valuable consideration, not being the actual performance of the obligation itself The accord is the agreement by which the obligation is discharged The satisfaction is the consideration which makes the agreement operative "
accord and satisfaction

    الواصلة

    ac·cord and sat·is·fac·tion

    التركية النطق

    ıkôrd ınd sätısfäkşın

    النطق

    /əˈkôrd ənd ˌsatəsˈfaksʜən/ /əˈkɔːrd ənd ˌsætəsˈfækʃən/
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