Accord And Satisfaction Definition and Legal Meaning

On this page, you'll find the legal definition and meaning of Accord And Satisfaction, written in plain English, along with examples of how it is used.

What is Accord And Satisfaction?

n. a mutual consent to discharge the obligation and fulfillment of the legal consideration which binds the parties to the agreement. Lke for example, a satisfaction agreed upon between the party injuring and the party injured, between a debtor and payee.