Русско-англо-русский юридический словарь

Accord and Satisfaction Definition:

The act of one party, having complied with its contractual obligation, accepting some type of compensation from the other party (usually money and of a lesser value) in lieu of enforcing the contract and holding the other party to their original obligation.

In Ryder, Justice Squatrito wrote:

"Accord and satisfaction is a method of discharging a claim whereby the parties agree to give and accept something other than that which is due in settlement of the claim and to perform the agreement." (Duhaime's Law Dictionary)

accord and satisfaction. Agreement between two parties to a contract, in which one party (which has a legal claim against the other) releases the other party from its obligations in return for some form of compensation. The agreement is the 'accord,' and the compensation is the 'satisfaction.' (BusinessDictionary)

Accord and Satisfaction. An agreement (accord) between two contracting parties to accept alternate performance to discharge a preexisting duty between them and the subsequent performance (satisfaction) of that agreement. (Wex)

Article 409. Accord and Satisfaction. By agreement of the parties, an obligation may be terminated by accord and satisfaction (payment of money, transfer of property, etc.) in place of its performance. (Перевод ГК РФ на английский, выполненный учёным-компаративистом Кристофером Осакве)