An accord is an agreement by the parties to offer and accept some performance different from that originally bargained for. the actual performance of the new obligation is:

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Business

Kidd

13 July, 00:42

An accord is an agreement by the parties to offer and accept some performance different from that originally bargained for. the actual performance of the new obligation is:

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Alfred Lin · Answer 1

The answer is satisfaction. It is the legal consideration which binds the parties to the settlement. A valid accord does not discharge the prior contract; instead, it appends the right to enforce it in accordance with the terms of the accord contract, in which satisfaction. The performance of the contract will discharge both contracts. If the creditor breaches the accord, then the debtor will be able to bring up the existence of the accord in order to enjoin any action against him.