accord payment
1accord — ac·cord 1 /ə kȯrd/ vt 1: to bring into agreement 2: to grant or give esp. as appropriate, due, or earned vi: to be consistent or in harmony ◇ Accord in this sense is often used to introduce a case or an authority that accords with the case or… …
2accord and satisfaction — n. A means of ending a dispute by forming an agreement (the accord) that one party will pay the other some consideration (the satisfaction, often less than the amount originally agreed to) and that this will discharge any remaining obligation.… …
3Accord and satisfaction — In contract law, accord and satisfaction is the purchase of the release from a debt obligation. The payment is typically less than what is owed and is not paid by the actual performance of the original obligation. The accord is the agreement to… …
4accord — 1. An agreement between two persons, one of whom has a right of action against the other, to settle the dispute. In a debtor/creditor relationship, an agreement between the parties to settle a dispute for some partial payment. It is called an… …
5accord — 1. An agreement between two persons, one of whom has a right of action against the other, to settle the dispute. In a debtor/creditor relationship, an agreement between the parties to settle a dispute for some partial payment. It is called an… …
6accord and satisfaction — An agreement to accept less than is legally due in order to conclude a dispute. The new agreement (i.e., the accord) and the payment (i.e., the satisfaction, when made) replace the original obligation. See novation …
7accord and satisfaction — /əˌkɔ:d ən sætɪs fækʃən/ noun the payment by a debtor of (part of) a debt …
8Partial Payment — refers to the offering of a payment by check for less than the full amount claimed by the creditor. Such an offer for debt discharge by tender of a payment in full check is a common practice. If the amount tendered is not grossly insufficient, it …
9specie payment — ▪ American finance the redemption of U.S. paper money by banks or the Treasury in metallic (usually gold) coin. Except for a few periods of suspension (1814–15, 1836–42, and 1857), Americans were able to redeem paper money for specie… …
10EXECUTION — (Civil), laws concerning methods of recovering a debt. Definition and Substance of the Concept In Jewish law, a debt or obligation (ḥiyyuv) creates in favor of the creditor not only a personal right of action against the debtor, but also a right… …
