N.C. Gen. Stat. § 1-540
By agreement receipt of less sum is discharge
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
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.
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.
History
(1874-5, c. 178; Code, s. 574; Rev., s. 859; C.S., s. 895.)
Legal Periodicals. - For discussion of the law of contracts in relation to this section, see 13 N.C.L. Rev. 45 (1935).
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.