Which of the following is true about accord and satisfaction?
A) It usually arises in settlement of a dispute under the original contract.
B) It brings a new third party into the contract.
C) It discharges the original contract's duties upon reaching the accord.
D) It cannot be enforced by a party in the contract.

Question

Quizplus · Accepted Answer

Accord and satisfaction typically arises in settlement of a dispute under the original contract. It involves an agreement between the parties to accept something different in satisfaction of the original obligation. Once the accord is fulfilled, it discharges the original contract's duties. Accord and satisfaction can be enforced by either party in the contract.

Which of the Following Is True About Accord and Satisfaction