accord and satisfaction

Popular Terms
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.'

Use 'accord and satisfaction' in a Sentence

I was glad that we were going to be released from our contractual obligations, but not glad that we still had to deal with an accord and satisfaction agreement.
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The two parties reached an accord and satisfaction, in return for the royalties that the author received the distribution company would drop subsequent charges against the author.
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You need to make sure that you do everything to live up to the accord and satisfaction so that you know the deal is done right.
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