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.
Together, Accord and CapX establish a financial services platform that can lend up and down a company's balance sheet creating a one-stop source of senior secured financing to middle market businesses.
During 2007, the current Accord has been highly-commended in the What Car?
"The new Sport GT launched in September embodies all that the Accord stands for - high spec and great value for money."
Years after teaching the world through its VTEC variable valve timing system that more revs = more power, Honda introduces an engine for the European Accord with a combustion process better known for torque and a truncated redline, the CTDi diesel.
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.
The 17-inch wheels help the appearance, but the car still looks a lot like other Accords. The only thing that took some getting used to was the new hydraulic clutch.
* $1.6 billion will be provided over five years in direct health accord initiatives, including patient safety, Canadian Coordinating Office for Health Technology Assessment, Employment Insurance compassionate care, a GST rebate for health institutions, a national immunization strategy and governance and accountability.
An Accord sedan with slightly different style and specifications was put on the U.S.
Banks did increase their capital after the 1988 Accord was widely adopted, but by the mid-1990's, it had become clear that the standards were no longer doing the job.
Bishop Duncan Wallace of Qu'Appelle signed, calling the accord a fair and balanced statement.
One impetus behind the new accord is the growing number of tempting -- but environmentally questionalbe -- waste-disposal contracts offered to developing nations.