n. an agreement to accept less than is legally due in order to wr...

Definition The settlement of an obligation. An accord is an agreement made by a creditor to accept something different from - or less than - what was originally promised. Once the creditor accepts an [..]

A method of settling a claim in which the parties to the dispute agree to accept something different than was originally expected. The accord

is a legal term that denotes accepting compensation in lieu of some contractual obligation from another party.

An accord and satisfaction is a method of discharging a contract, or settling a cause of action arising either from a contract or a civil wrong (tort), by substituting for the contract or cause of act [..]

Method of discharging a claim whereby parties agree to give and accept something in settlement of claim. The new agreement is called the accord. The satisfaction is the action performed to settle the claim.

Compromise and settlement. A way to discharge a claim whereby the parties agree to give and accept something in settlement of the claim that will replace the terms of the parties’ original agreement. [..]

An agreement between the parties whereby a claim or charge may be dismissed by the court upon a payment or other consideration given to the person injured.

n. an agreement to accept less than is legally due in order to wrap up the matter. Once the accord and satisfaction is made and the amount paid (even though it is less than owed) the debt is wiped out [..]

Where a party agrees to obligations under a contract to be changed and replaced by new ones.