An accord and satisfaction is an arrangement between contracting parties whereby one of the parties substitutes a different performance for his or her original duty under the contract.

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An accord and satisfaction is an arrangement between contracting parties whereby one of the parties substitutes a different performance for his or her original duty under the contract.The promise to perform the new duty is the accord,and the actual performance of that new duty is the satisfaction.

An Accord and Satisfaction Is an Arrangement Between Contracting Parties