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accord and satisfaction

Accord and satisfaction is an enforceable agreement in which the parties agree to discharge a contract, claim, or obligation on terms that differ from the original terms of the contract, claim, or obligation.

In Louisiana, accord and satisfaction is recognized as a method to discharge a contract or settle a claim by agreeing to provide something different from what was originally due. This is typically used when there is a dispute over the performance of a contract or the amount owed. Under Louisiana law, for an accord and satisfaction to be enforceable, there must be a clear and unequivocal offer of performance that is different from what is due, and an acceptance of that offer by the party to whom the performance is owed. The acceptance must be with the intention of extinguishing the obligation. Once the new agreement is fulfilled, the original obligation is considered satisfied and cannot be pursued further. This principle is governed by the Louisiana Civil Code, and it is important for parties to clearly document their agreement to ensure that the accord and satisfaction is recognized by the courts.

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Contracts

accord and satisfaction

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Louisiana State Code

Louisiana State Code

Contracts

accord and satisfaction

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