accord and satisfaction

1. 1.

   the settlement of a debt by paying less than the amount demanded in exchange for extinguishing the debt

   Broadersettlement

Questions about accord and satisfaction

What does accord and satisfaction mean?

accord and satisfaction means "the settlement of a debt by paying less than the amount demanded in exchange for extinguishing the debt".

Is accord and satisfaction a common word?

accord and satisfaction is banded "Rare" — specialist or archaic — most readers will not have met it. The band comes from how often the word appears in a large corpus of everyday English, not from an editor's impression.