A discharge by accord and satisfaction occurs when:
A)one party leads the other to reasonably believe that strict performance will not be insisted upon.
B)a new agreement is substituted for the old by the parties.
C)both parties abandon their original agreement while it is still executory.
D)a party who has already performed their obligation agrees to relieve the other party from performing their obligation in return for their doing something different.

Question

Quizplus · Accepted Answer

A discharge by accord and satisfaction occurs when one party who has already performed their obligation agrees to relieve the other party from performing their obligation in return for their doing something different. In other words, the parties agree to a new arrangement or modification of the original agreement, which is accepted as satisfaction of the original obligation. This is different from an novation where a new party is substituted for an old one.

A Discharge by Accord and Satisfaction Occurs When