Accord and satisfaction is an agreement not to proceed with the performance of a contract already in existence.

Name: Accord and satisfaction is an agreement not to proceed with the performance of a contract already in existence.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Accord and satisfaction is an agreement between parties to settle a claim by one party in exchange for some performance by the other party that differs from the original obligation, not an agreement not to proceed with a contract.

Accord and Satisfaction Is an Agreement Not to Proceed with the Performance