accord


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Accord

An agreement that settles a dispute, generally requiring an obligee to accept a compromise or satisfaction from the obligor with something less than what was originally demanded. Also often used synonymously with treaty.

accord

noun accommodation, accordance, agreement, arrangement, compromise, concession, concord, concordance, mutual understanding, settlement, understanding
Associated concepts: accord and satisfaction, disputed claims, executed accord, executory accord, novation, payyent of a debt, release, satisfaction, substituted agreeeent, unliquidated claim
Foreign phrases: Concordare leges legibus est optimus innerpretandi modus.To reconcile laws with other laws is the best method of interpreting them.

ACCORD, in contracts. A satisfaction agreed upon between the party injuring and the party injured, which when performed is a bar to all actions upon this account. 3 Bl. Com. 15; Bac. Abr, Accord.
     2. In order to make a good accord it is essential:
     1. That the accord be legal. An agreement to drop a criminal prosecution as a satisfaction for an assault and imprisonment, is void. 5 East, 294. See 2 Wils. 341 Cro. Eliz. 541.
     3.-2. It must be advantageous to the contracting party; hence restoring to the plaintiff his chattels, or his land, of which the defendant has wrongfully dispossessed him, will not be any consideration to support a promise by the plaintiff not to sue him for those injuries. Bac. Abr. Accord, &c. A; Perk. s. 749; Dyer, 75; 5 East, R. 230; 1 Str. R. 426; 2 T. R. 24; 11 East, R. 390; 3 Hawks, R. 580; 2 Litt. R. 49; 1 Stew. R. 476; 5 Day, R. 360; 1 Root, R. 426; 3 Wend. R. 66; 1 Wend, R. 164; 14 Wend. R. 116; 3 J. J. Marsh. R. 497.
     4.-3. It must be certain; hence an agreement that the defendant shall relinquish the possession of a house in satisfaction, &c., is not valid, unless it is also agreed at what time it shall be relinquished. Yelv. 125. See 4 Mod. 88; 2 Johns. 342; 3 Lev. 189.
     5.-4. The defendant must be privy to the contract. If therefore the consideration for the promise not to sue proceeds from another, the defendant is a stranger to the agreement, and the circumstance that the promise has been made to him will be of no avail. Str. 592; 6, John. R. 37; 3 Monr. R. 302 but in such case equity will grant relief by injunction. 3 Monr. R. 302; 5 East, R. 294; 1 Smith's R. 615; Cro. Eliz. 641; 9 Co. 79, b; 3 Taunt. R. 117; 5 Co. 117, b.
     6.-5. The accord must be executed. 5 Johns. R. 386; 3 Johns. Cas. 243; 16 Johns. R. 86; 2 Wash. C. C. R. 180; 6 Wend. R. 390; 5 N. H. Rep. 136; Com. Dig. Accord, B 4.
     7. Accord with satisfaction when completed has two effects; it is a payment of the debt; and it is a species of sale of the thing given by the debtor to the creditor, in satisfaction; but it differs from it in this, that it is not valid until the delivery of the article, and there is no warranty of the thing thus sold, except perhaps the title; for in regard to this, it cannot be doubted, that if the debtor gave on an accord and satisfaction the goods of another, there would be no satisfaction. See Dation, en paiement. See in general Com. Dig. h.t.; Bac. Ab. h.t.; Com. Dig. Pleader, 2 V 8; 5 East, R. 230; 4 Mod. 88 ; 1 Taunt. R. 428; 7 East, R. 150; 1 J. B. Moore, 358, 460; 2 Wils. R. 86; 6 Co. 43, b; 3 Chit. Com. Law, 687 to 698; Harr. Dig. h.t.; 1 W. Bl. 388; 2 T. R. 24; 2 Taunt. 141; 3 Taunt. 117; 5 B.& A. 886; 2 Chit. R. 303 324; 11 East, 890; 7 Price, 604; 2 Greenl. Ev. Sec. 28; 1 Bouv. Inst. n. 805; 3 Bouv. Inst. n. 24 78-79-80-81. Vide Discharge of Obligations.

References in periodicals archive ?
In summary, it is the most dramatically styled, premium and fun-to-drive Accord yet.
From its humble roots as a hatchback with a smaller wheelbase than today's subcompact Honda Fit, to today's full lineup of engines and body styles including the Accord Sedan and Coupe and just-launched 2017 Accord Hybrid Accord has a legacy of leadership unique in the industry.
To this end, the members of the Toronto Valuation Accord and their representatives to the IVSC seek greater public involvement and assistance to ensure that the FASB's recently released Proposal on Fair Value Measurements (www.
A revised accord that is carefully crafted could speed adoption of still better techniques and promote the further evolution of risk measurement and management by spurring increased investment in the process.
In recent years, however, the Accord has exhibited serious shortcoming.
These exciting new Accord releases significantly extend and augment the existing Accord family of products and will provide great benefits to our customers," said Dr Frank Brown, Chief Science Officer of Accelrys.
The agencies anticipate that comments will be useful in shaping further refinements to the framework as the Basel Committee completes its work on the New Accord and, after that, in developing a Notice of Proposed Rulemaking to implement the New Accord in the United States.
The Kyoto Accord is based upon the premise that humankind has been altering the global climate by increasingly pumping carbon dioxide into the atmosphere, which reflects heat back to the globe's surface, disrupting weather patterns and altering ecological cycles.
The paper highlighted the Camp David accords, broke red by Carter, "which brought peace between Israel and Egypt.
The Entity is a trustee which is responsible for ensuring that the terms and conditions of the Bercy Accord are adhered to and the rights and obligations of the various parties to the Bercy Accord are carried out.
Under the terms of the Bercy Accord, Falconbridge and its joint venture partner, SMSP, will hold a 49% and 51% interest, respectively, in the Project when two conditions are met: