Satisfaction
(redirected from Satisfaction(song))Also found in: Dictionary, Thesaurus, Encyclopedia.
Satisfaction
The discharge of an obligation by paying a party what is due—as on a mortgage, lien, or contract—or by paying what is awarded to a person by the judgment of a court or otherwise. An entry made on the record, by which a party in whose favor a judgment was rendered declares that she has been satisfied and paid.
The fulfillment of a gift by will, whereby the testator—one who dies leaving a will—makes an inter vivos gift, one which is made while the testator is alive to take effect while the testator is living, to the beneficiary with the intent that it be in lieu of the gift by will. In Equity, something given either in whole or in part as a substitute or equivalent for something else.
satisfaction
n. receiving payment or performance of what is due. (See: satisfaction of judgment, accord and satisfaction, contract)
SATISFACTION, practice. An entry made on the record, by which a party in
whose favor a judgment was rendered, declares that he has been satisfied and
paid.
2. In Alabama, Delaware, Illinois, Indiana, Massachusetts, New
Hampshire, Pennsylvania, Rhode Island, South Carolina, and, Vermont,
provision is made by statute, requiring the mortgagee to discharge a
mortgage upon the record, by entering satisfaction in the margin. The
refusal or neglect to enter satisfaction after payment and demand, renders
the mortgagee liable to an action, after the time given him by the
respective statutes for doing the same has elapsed, and subjects him to the
payment of damages, and, in some cases, treble costs. In Indiana and New
York, the register or recorder of deeds may himself discharge the mortgage
upon the record on the exhibition of a certificate of payment and
satisfaction signed by the mortgagee or his representatives, and attached to
the mortgage, which shall be recorded. Ind. St. 1836, 64; 1 N. Y. Rev. St.
761.
SATISFACTION, construction by courts of equity. Satisfaction is defined to
be the donation of a thing, with the intention, express or implied, that
such donation is to be an extinguishment of some existing right or claim in
the donee.
2. Where a person indebted bequeaths to his creditor a legacy, equal
to, or exceeding the amount of the debt, which is not noticed in the will,
courts of equity, in the absence of any intimation of a contrary intention,
have adopted the rule that the testator shall be presumed to have meant the
legacy as a satisfaction. of the debt.
3. When a testator, being indebted, bequeaths to his creditor a legacy,
simpliciter, and of the same nature as the debt, and not coming within the
exceptions stated in the next paragraph, it has been held a satisfaction of
the debt, when the legacy is equal to, or exceeds the amount of the debt.
Pre. Ch. 240; 3 P. Wms. 353.
4. The following are exceptions to the rule: 1. Where the legacy is of,
less amount than the debt, it shall not be deemed a part payment or
satisfaction. 1 Ves. pen. 263.
5.-2. Where, though the debt and legacy are of equal amount, there is a
difference in the times of payment, so that the legacy may not be equally
beneficial to the legatee as the debt. Prec. Ch. 236; 2 Atk. 300; 2 Ves.
sen. 63 5; 3 Atk. 96; 1 Bro. C. C. 129; 1 Bro. C. C. 195; 1 McClel. & Y.
Rep. Exch. 41; 1 Swans. R. 219.
6.-3. When the legacy and the debt are of a different nature, either
with reference, to the subjects themselves, or with respect to the interests
given. 2 P. Wms. 614; 1 Ves. jr. 298; 2 Ves. jr. 463.
7.-4. When the provision by the will is expressed to be given for a
particular purpose, such purpose will prevent the testamentary gift being
construed a satisfaction of the debt, because it is given diverse intuitu. 2
Ves. sen. 635.
8.-5. When the debt of the testator is contracted subsequently to the,
making of the will; for, in that case, the legacy will not be deemed a
satisfaction. 2 Salk. 508.
9.-6. When the legacy is uncertain or contingent. 2 Atk. 300; 2 P. Wms.
343.
10.-7. Where the debt itself is contingent, as where it arises from a
running account between the testator and legatee; 1 P. Wms. 296; or it is a
negotiable bill of exchange. 3 Ves. jr. 561.
11.-8. Where there is an express direction in the will for the payment
of debts end legacies, the court will infer from the circumstance, that the
testator intended that both the debt owing from him to the legatee and the
legacy, should, be paid. 1 P. Wms. 408; 2 Roper, Leg. 54.
See, generally, Tr. of Eq. 333; Yelv. 11, n.; 1 Swans. R. 221; 18 Eng.
Com. Law Rep. 201; 4 Ves. jr. 301; 7 Ves. jr. 507; 1 Suppl. to Ves. jr. 204,
308, 311, 342, 348, 329; 8 Com. Dig. Appen. tit. Satisfaction, p. 917; Rob.
on Frauds, 46, n. 15; 2 Suppl. to Ves. jr. 22, 46, 205; 1 Vern. 346; Roper,
Leg. c. 17; 1 Roper on Hush. and Wife, 501 to 511; 2 Id. 53 to 63; Math. on
Pres. c. 6, p. 107; 1 Desaus. R. 814; 2 Munf. Rep. 413; Stallm. on El. and
Sat.