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What does accord mean?
What is an accord agreement?
What is an accord and satisfaction agreement?
How do you use accord in a sentence?
Feb 1, 2023 · The accord legal definition is an agreement between two parties that satisfies a contract dispute by discharging an original contract duty and providing an alternate performance of the agreement. The word accord is used as a synonym for the word treaty.
In legal terms, an accord is a type of agreement between two parties that aims to settle a dispute or debt. It's often used to resolve a disagreement without going to court.
Accord. An agreement that settles a dispute, generally requiring an obligee to accept a compromise or satisfaction from the obligor with something less than what was originally demanded. Also often used synonymously with treaty. West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
(vii) Accord and Satisfaction. Accord and satisfaction is the purchase of a release from an obligation, whether arising under contract
Jul 3, 2024 · Accord and satisfaction is a concept from contract law that usually applies to the purchase of a release from a debt obligation. An accord and satisfaction may occur in debt...
The Basics: Usually, accord and satisfaction deals with a debtor’s offer of payment and a creditor’s acceptance of a lesser amount than the creditor originally claimed to be owed. It is a method of discharging a claim by settlement of the claim and performing the new agreement.
Accord. Accord is a tricky and rarely used signal. It indicates that two or more sources state or support the proposition, but the text either quotes or refers to only one of them. It is most often used to indicate that the law of one jurisdiction is in line with that of another.
