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Accord and satisfaction

Accord and satisfaction Definition

Accord and satisfaction is the purchase of the release from a debt obligation. The payment is typically less than what is owed and is not paid by the actual performance of the original obligation. The accord is the agreement to discharge the obligation and the satisfaction is the legal "consideration" which binds the parties to the agreement.


If a person is sued over an alleged debt they bear the burden of proving the affirmative defense of accord and satisfaction Affirmative defense.




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