ACCORD AND SATISFACTION
(noun)Definitions
There is 1 meaning of the phrase
Accord And Satisfaction.
Accord And Satisfaction - as a noun
The settlement of a debt by paying less than the amount demanded in exchange for extinguishing the debt
Example Sentences
"The plaintiff and the defendant reached an accord and satisfaction to settle the lawsuit out of court."
"The parties entered into an accord and satisfaction agreement to resolve the dispute over the contract."
"According to the terms of the accord and satisfaction, the debtor agreed to pay a reduced amount to the creditor."
"The court considered the accord and satisfaction as evidence that the parties had resolved their differences."
"The lawyer explained to the client the concept of accord and satisfaction in the context of their legal dispute."
