Accord and Satisfaction in United States

Practical Information

Note: Some of this information was last updated in 1982

Payment of money, or other consideration, usually less than the amount owed, to discharge an obligation or debt. The parties must have actually or impliedly agreed that the payment of the smaller sum will discharge the debt. It is an equitable remedy that must be pled as a bar to recovery in a subsequent lawsuit.

(Revised by Ann De Vries)

What is Accord And Satisfaction?

For a meaning of it, read Accord And Satisfaction in the Legal Dictionary here. Browse and search more U.S. and international free legal definitions and legal terms related to Accord And Satisfaction.

Meaning of Accord and Satisfaction

In plain or simple terms, Accord and Satisfaction means: An agreement to give and take something to settle the claim.