Accord and Satisfaction of Debt Release
From LawDepot Law Library
Definition of "Accord and Satisfaction of Debt Release"
An Accord and Satisfaction of Debt Release is an agreement to accept less than is legally due in order to reach a settlement. The Releasing Party agrees to release any claims they have to the debt in exchange for an agreed upon compensation. This release should only be used when there is a genuine dispute over the actual amount of the debt, such as disputes over the value of services provided.
"Accord and Satisfaction of Debt Release" is referred to in the following legal documents:
See also:
Damage to Personal Property Release
