A(n)________ 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 in which the parties agree to accept something different in satisfaction of the original contract. It is often used to settle disputes between contracting parties where there has been a breach of contract. A counteroffer is a response to an offer that changes the terms and conditions of the original offer. Promissory estoppel is a doctrine that allows a party to enforce a promise that was made without consideration under certain circumstances. Mirror image acceptance is a term used in contract law to describe an acceptance that is identical to the terms of the offer.

A(n)________ Is an Agreement Whereby the Parties Agree to Accept