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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 North Dakota, accord and satisfaction is recognized as a method to discharge a contract or settle a dispute by agreeing to provide and accept performance that differs from the original obligation. This concept is codified in the North Dakota Century Code (NDCC) under Section 9-13-04. For an accord and satisfaction to be enforceable, there must be a genuine dispute or uncertainty regarding the original obligation, an offer of performance (the 'accord') that is different from what was originally due, and the acceptance of that performance (the 'satisfaction') by the party to whom the original obligation was owed. Once the accord and satisfaction are completed, the original obligation is considered settled, and the debtor is released from further liability. It is important to note that the terms of the accord must be clearly communicated and voluntarily accepted by both parties for it to be legally binding.

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Creditor / Debtor

accord and satisfaction

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North-Dakota State Code

North-Dakota State Code

Creditor / Debtor

accord and satisfaction

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