accord and satisfaction

accord and satisfaction defined in 1939 year

accord and satisfaction - Accord and Satisfaction;
accord and satisfaction - Term used in English law. Where a cause of action exists, and the parties agree that something shall be paid, or given, or done, in satisfaction thereof, and that something is paid, given, or done, the original cause of action has gone, because there is accord and satisfaction. Thus, if X owes Y £100, and Y agrees to accept X's car in lieu thereof, there is accord; and if the ear is handed over by X there is accord and satisfaction, and the £100 is no longer due. There can be no accord and satisfaction of a larger sum by payment of a smaller one. Thus, if A owes B £100, and B agrees to accept £50, B can still sue for the other £50. But if the £100 is due on a day, and B agrees to accept, and is paid, £50 the day before, then there is accord and satisfaction.

near accord and satisfaction in Knolik

letter "A"
start from "AC"

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