A promise to accept a lesser sum in satisfaction of a greater sum will be enforceable if it is contained in a deed.

Name: A promise to accept a lesser sum in satisfaction of a greater sum will be enforceable if it is contained in a deed.
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A promise contained in a deed is binding and enforceable, even if it involves accepting a lesser sum in satisfaction of a greater sum. This is known as a deed of compromise or settlement, and it is a legally recognized way to resolve disputes by mutual agreement.

A Promise to Accept a Lesser Sum in Satisfaction of a Greater