Accord and satisfaction

Defined in 4 dictionaries — Case Law, Ballentine's (1916), Black's (1910), Black's (1891)

Definitions from Case Law

From 52 U.S. 209 - John Warner Citizen of the State of Pennsylvania · 1850Most cited · 55 citing opinions

That is, when, instead of a sale for a price, a thing is given by the debtor to the creditor in payment, in which we all know that, if the thing given is the property of another, there will be no satisfaction. It is the dation en payement of the civil law as it prevails in Louisiana, which is, when a debtor gives, and the creditor receives, instead of money, a movable or immovable thing in satisfaction of the debt.

Show all 2 Supreme Court definitions and how they changed over time 1850–1925

Ballentine's Law Dictionary

James A. Ballentine · 1916

The adjustment of a disagreement as to what is due from one to another, and the payment of the agreed amount. See 62 L. R. A. 760.

Black's Law Dictionary

Henry Campbell Black, M.A. · 1910

An agreement between two persons, one of whom has a right Of action against the other, that the latter should do or give, and the former accept, something in satisfaction of the right of action different from, and usually less than, what might be legally enforced. When the agreement ls executed, and satisfaction has been made, it ls called "accord and satisfaction." Rogers v. Spokane, 9 Wash. 168, 37 Pac. 300; Davis v. Noaks, 3 J. J. Marsh. (Ky.) 494. Accord and satisfaction is the substitution of another agreement between the parties in satisfaction of the former one, and an execution of the latter agreement Such ls the definition of this sort of defense, usually given. But a broader application of the doctrine has been made in later times, where one promise or agreement is set up in satisfaction of another. The rule is that an agreement or promlse of the same grade wlll not be held to be in satlsfaction of a prior one, unless it has been expressly accepted as such; as, where a new promissory note has been given in lieu of a former one, to have the effect of a satisfaction of the former, it must have been aceepted on an express agreement to that effect. Pulliam v. Taylor, 50 Miss. 251; Continental Nat. Bank v. Mc-Geoch, 92 Wis. 286, 66 N. W. 606; Heath v. Vaughn, 11 Colo. App. 384, 53 Pac. 229; Story v. Maclay, 6 Mont. 492, 13 Pac. 198; Swofford Bros. Dry Goods Co. v. Goss, 65 Mo. App. 55; Rogers v. Spokane, 9 Wash. 168, 37 Pac. 300; Heavenrich v. Steele, 57 Minn. 221, 58 N. W. 982.

A Dictionary of Law

Henry Campbell Black · 1891

An agreement between two persons, one of whom has a right of action against the other, that the latter should do or give, and the former accept, something in satisfaction of the right of action different from, and usually less than, what might be legally enforced. When the agreement is executed, and satisfaction has been made, it is called "accord and satisfaction." An accord and satisfaction may be briefly defined as "the settlement of a dispute or the satisfaction of a claim, by an executed agreement between the party injuring and the party injured;" or, to give a definition indicating more definitely its peculiar nature, it is "something of legal value to which the creditor before had no right, received in full satisfaction of the debt, without regard to the magnitude of the satisfaction." 1 Smith, Lead. Cas. (10th Amer. Ed.,) 558; 43 Conn. 462. Accord and satisfaction is the substitution of another agreement between the parties in satisfaction of the former one, and an execution of the latter agreement. Such is the definition of this sort of defense, usually given. But a broader application of the doctrine has been made in later times, where one promise or agreement is set up in satisfaction of another. The rule is that an agreement or promise of the same grade will not be held to be in satisfaction of a prior one, unless it has been expressly accepted as such; as, where a new promissory note has been given in lieu of a former one, to have the effect of a satisfaction of the former, it must have been accepted on an express agreement to that effect. 50 Miss. 257. An accord is an agreement to accept, in extinction of an obligation, something different from or less than that to which the person agreeing to accept is entitled. Civil Code Cal. § 1521; Civil Code Dak. § 859.