What is the "accord" in an accord and satisfaction under contract law?
A) any agreement that has been fully performed
B) an agreement made in order to settle a dispute of an earlier contract that is not valid because the terms of the earlier contract will control
C) an agreement made in order to settle a dispute of an earlier contract that eliminates all legal effect of the earlier contract upon the accord's formation
D) an agreement made to correct an illusory promise made in a contract
E) an agreement made in order to settle a dispute of an earlier contract that, if not satisfied, allows a lawsuit to enforce either the original contract or the accord
Correct Answer:
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