How Do You Spell ACCORD AND SATISFACTION?

Pronunciation: [ɐkˈɔːd and sˌatɪsfˈakʃən] (IPA)

The legal term "accord and satisfaction" is spelled with a double "c" and "d" in "accord" and a single "s" and double "t" in "satisfaction." Its IPA transcription is /əˈkɔːd/ and /sætɪsˈfækʃən/. "Accord" refers to a mutually agreed-upon agreement between two parties, while "satisfaction" refers to the performance of the terms of the agreement. This legal term is commonly used in contract law and is essential for determining the outcome of contractual disputes.

ACCORD AND SATISFACTION Meaning and Definition

1. Accord and satisfaction is a legal term that refers to the resolution of a dispute or claim between two parties through an agreement or settlement. It occurs when one party offers terms to resolve a dispute, and the other party accepts those terms in full satisfaction of the claim, thereby extinguishing the original obligation or cause of action. This concept is commonly used in contract law and can be enforceable if certain elements are met.

   An "accord" refers to the agreement or arrangement made between the parties. It involves the offer by one party to settle the dispute or claim on specific terms. The terms may include payment of a lesser amount, performance of alternative actions, or any other stipulated condition.

   "Satisfaction" refers to the acceptance of the offered terms by the other party. Once the party accepts the terms, it signifies their agreement to be bound by them and acknowledges that the dispute or claim has been fully resolved. This acceptance can be expressed explicitly or implied through conduct.

   For an accord and satisfaction to be legally valid, there must be a genuine dispute or unliquidated claim, the accord offered must be a bona fide compromise, both parties must have the legal capacity to enter into the agreement, and there must be full compliance and satisfaction of the accord terms.

   Accord and satisfaction provides a mechanism for resolving disputes in a mutually agreed-upon manner, avoiding the need for litigation or court intervention. It allows parties to find a common ground and reach a resolution that is satisfactory to both sides.

Common Misspellings for ACCORD AND SATISFACTION

• zccord and satisfaction
• sccord and satisfaction
• wccord and satisfaction
• qccord and satisfaction
• axcord and satisfaction
• avcord and satisfaction
• afcord and satisfaction
• adcord and satisfaction
• acxord and satisfaction
• acvord and satisfaction
• acford and satisfaction
• acdord and satisfaction
• accird and satisfaction
• acckrd and satisfaction
• acclrd and satisfaction
• accprd and satisfaction
• acc0rd and satisfaction
• acc9rd and satisfaction
• accoed and satisfaction

Plural form of ACCORD AND SATISFACTION is ACCORD AND SATISFACTIONS