ACCORD
accord, n.1. An amicable arrangement between parties, esp. between peoples or nations; COMPACT; TREATY.
2. An offer to give or to accept a stipulated performance in the future to satisfy an obligor’s existing duty, together with an acceptance of that offer. ? The performance becomes what is known as a satisfaction.
¡ª Also termed executory accord; accord executory. See ACCORD AND SATISFACTION ; SATISFACTION. Cf. COM-PROMISE; NOVATION. [Cases: Accord and Satisfaction
1. C.J.S. Accord and Satisfaction ¡ì¡ì 2¨C17, 25¨C33.]
¡°An accord is a contract under which an obligee promises to accept a stated performance in satisfaction of the obligor’s existing duty. Performance of the accord discharges the original duty.¡± Restatement (Second) of Con-tracts ¡ì 281(1) (1979).
¡°The term executory accord is sometimes used to underscore the point that the accord itself does not discharge the duty. It also reflects an historical anachronism, now generally rejected, under which an unperformed accord was not a defense to an action on the underlying duty.¡± E. Allan Farnsworth, Contracts ¡ì 4.24, at 289 n.10 (3d ed. 1999).
3. A signal used in a legal citation to introduce a case clearly supporting a proposition for which another case is being quoted directly.
accord, vb.
1. To furnish or grant, esp. what is suitable or proper (accord the litigants a stay of costs pending appeal).
2. To agree (they accord in their opinions).
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