________ is an agreement whereby the parties agree to accept something different in satisfaction of the original contract.

Question

Quizplus · Accepted Answer

An accord is an agreement between the parties to a contract in which they agree to accept something different in satisfaction of the original contract. This differs from a counteroffer, which is a rejection of the original offer and the submission of a new offer, and promissory estoppel, which occurs when one party makes a promise to the other party, who then relies on that promise to their detriment. Mirror image acceptance is when the acceptance of an offer is a precise match of the terms of the offer.

________ Is an Agreement Whereby the Parties Agree to Accept