Accord and satisfaction

Accord and satisfaction known in English contract law a contract type, in which the debtor acquires a new contract an objection against the old contract. The debtor " buys " thereby from his obligation, but this does not happen in fulfillment of the original commitment. The result is rather a new contract with the Requirements Application (offer), acceptance ( acceptance ) and consideration that the debtor as against a creditor of the original contract as a defense ( defense ). The classic definition of accord and satisfaction comes from Scrutton LJ in British Russion Gazette, Ltd.. v Associated Newspapers, Ltd.. :

" Accord and satisfaction is the purchase of a release from obligation to, under contract or tort Whether arisiing, by Means of any valuable consideration, not being the actual performance of the obligation Itself. The accord is the agreement by Which the obligation is Discharged. The satisfaction is the consideration Which makes the agreement operative. "

For the satisfaction the general requirements for consideration apply. In particular, no consideration is present when the original debt is only reduced. In this case, an additional disadvantage for the debtor or advantage to the creditor by the debtor to the creditor must send (see Pinnel 's Case ( 1608), Foakes v Beer ( 1884) ). If there is no effective consideration before or have other conditions of validity of a contract is not fulfilled, the creditor can freely sue under the original contract.

• Law ( England and Wales)