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The accord is the agreement to discharge the obligation and the satisfaction is the legal "consideration" which binds the parties to the agreement. A valid accord does not discharge the prior contract; instead it suspends the right to enforce it in accordance with the terms of the accord contract, in which satisfaction, or performance of the ...
accord and satisfaction Hirachand Punamchand v Temple [1911] 2 KB 330 is often cited as one of the exceptions to the accord and satisfaction rule laid out in Foakes v Beer . [ 1 ] In that case, it is held that an agreement to accept part payment of a debt cannot validly discharge the entire debt.
Although in his opinion part payment of debt could satisfy a whole debt, he found that Mrs Rees had effectively held the builders to ransom. Therefore, any variation of the original agreement was voidable at the instance of the debtors for duress. In point of law payment of a lesser sum, whether by cash or by cheque, is no discharge of a ...
In contract law, rescission is an equitable remedy which allows a contractual party to cancel the contract. Parties may rescind if they are the victims of a vitiating factor, such as misrepresentation, mistake, duress, or undue influence. [1]
A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. A contract typically involves consent [ 1 ] to transfer of goods , services , money , or promise to transfer any of those at a future date.
BEIJING (Reuters) -China and Japan reached a consensus in August on the discharge of radioactive water from the Fukushima nuclear plant, the Chinese foreign ministry said on Friday, bringing to an ...
The agreement was unanimously approved by the Commonwealth of Nations at a meeting at Gleneagles, Perthshire, Scotland. [1] [2] The Gleneagles Agreement reinforced their commitment, embodied in the Singapore Declaration of Commonwealth Principles (1971), to oppose racism. This commitment was further strengthened by the Declaration on Racism and ...
On October 23, 2020, Israel and Sudan agreed to normalize ties; the agreement is unratified as of 2024. [9] As part of the agreement, the US removed Sudan from its list of state sponsors of terrorism and gave them a US$1.2 billion loan. [10] On January 6, 2021, the government of Sudan signed the "Abraham Accords Declaration" in Khartoum. [11]