Construct · 1 fields · 2 citations

accord: a standalone construct

One name. One construct. A landmark on the map.

● anchor · a standalone construct Nearest construct by meaning·not indexed
accord1 CONSTRUCTAccord and satisfactionACCORD & SATISFACTION

A single standalone construct; nearby constructs are located against it in the Collider. Tap a field for its definition, unit, and measures.

Contract law

an agreement to accept a different or substituted performance in place of an existing obligation, discharged once performed.

In contract law an accord is an agreement under which a party accepts some different or substituted performance in place of an existing obligation, and the "satisfaction" is the actual performance that then discharges the original duty. Until the accord is satisfied, the original claim ordinarily survives; once it is, the dispute is extinguished. Garner's Black's Law Dictionary defines accord and satisfaction as this two-step mechanism for resolving a disputed or unliquidated debt. The referent is a legal device for discharging an obligation by consent, wholly distinct from a scent blend or a diplomatic pact.[2][1]

Unit
An agreed substitute performance discharging a claim
Recovery means
Not applicable
Measured by
Established by proof of a valid accord plus the satisfying performance that discharges the prior obligation

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Nearby constructs

agreement4 fields · 7 citationsjingle · one word, four constructs

References

  1. Garner, B. A. (Ed.). (2014). Black's law dictionary (10th ed.). Thomson Reuters. ISBN 9780314613004
  2. Farnsworth, E. A. (2004). Contracts (4th ed.). Aspen Publishers. ISBN 9780735545403

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