Asked by Kyndal Hampton on Apr 27, 2024
Verified
An accord and satisfaction prevents a creditor from maintaining an action to recover the remainder of the debt that he alleges is due.
Accord And Satisfaction
A legally binding agreement to settle a disputed claim for a definite amount.
- Identify exceptions to the consideration requirement.
Verified Answer
NR
Nordiana Ro azmiMay 02, 2024
Final Answer :
True
Explanation :
The settlement of an unliquidated debt is called an accord and satisfaction.When an accord and satisfaction has been made,the creditor cannot maintain an action to recover the remainder of the debt that he alleges is due.
Learning Objectives
- Identify exceptions to the consideration requirement.