Accord and Satisfaction

Crushendo defines this key bar prep and civil procedure term.

What does accord and satisfaction mean?

accord and satisfaction – An affirmative defense to a contract claim that applies when the parties have already agreed to modify the terms of the contract in such a way that resolves the claim being brought. Say you sue me for $10 million but we previously agreed our $10 million contract would only require me to pay $5 million, which I’ve already paid you.

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