In all claims, or money demands, of whatever kind, and howsoever due, where an agreement is made and accepted for a less amount than that demanded or claimed to be due, in satisfaction thereof, the payment of the less amount according to such agreement in compromise of the whole is a full and complete discharge of the same.
N.C. Gen. Stat. § 1-540
By agreement receipt of less sum is discharge
1874-5, c. 178; Code, s. 574; Rev., s. 859; C.S., s. 895.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.