|
 |
||
 |
| This dictionary contains: 8526 juridical terms |
 |
Accord and satisfaction
|
|
Accord and satisfactionA term of contract law by which one party, having complied with its obligation under a contract, accepts some type of compensation from the other party (usually money and of a lesser value) in lieu of enforcing the contract and holding the other party to their obligation.
RELATED TERMS--------------------------------------
Term
1) Construction. Word; expression speech. 2) Contracts. This word is used in the civil, law to denote the space of time granted to the debtor for discharging his obligation; there are express terms resulting from the positive stipulations of the agreement; as, where one undertakes to pay a certain sum on a certain day and also terms which tacitly result from the nature of the things which are the object of the engagement, or from the place where the act is agreed to be done. For instance, if a builder engage to construct a house for me, I must allow a reasonable time for fulfilling his engagement. 3) Estates. The limitation of an estate, as a term for years, for life, and the like. The word term does not merely signify the time specified in the lease, but the estate also and interest that passes by that lease; and therefore the term may expire during the continuance of the time, as by surrender, forfeiture and the like. 4) Practice. The space of time during which a court holds a session; sometimes the term is a monthly, at others it is a quarterly period, according to the constitution of the court.
Contract
A negotiated oral or written agreement setting forth the terms for an exchange of value between parties (which may be individuals or companies) and under which each party promises to perform an obligation. Certain terms, such as the obligations to be performed and the terms for setting price or compensation must be mutually understood, known in legal lingo as a "meeting of the minds," and promised to by the parties to form a legal contract.
Party
Practice, contracts. When applied to practice, by party is understood either the plaintiff or defendant. In contracts, a party is one or more persons who engage to perform or receive the performance of some agreement.
Obligation
In its general and most extensive sense, obligation is synony- mous with duty. In a more technical meaning, it is a tie which binds us to pay or to do something agreeably to the laws and customs of the country in which the obligation is made.
Compensation
1) Contracts. A reward for services rendered. 2) Crim. law; Compeusatio crimiuura, or recrimination. 3) Remedies. The damages recovered for an injury, or the violation of a contract.
Money
Gold, silver, and some other less precious metals, in the progress of civilization and commerce, have become the common standards of value; in order to avoid the delay and inconvenience of regulating their weight and quality whenever passed, the governments of the civilized world have caused them to be manufactured in certain portions, and marked with a Stamp which attests their value; this is called money.
Lieu
Place. Iu lieu of, instead, in the place of.
SIMILAR TERMS--------------------------------------
Accomenda
Martial law. In Italy, is a contract which takes place when an individual entrusts personal property with the master of a vessel, to be sold for their joint account. In such case, two contracts take place; first, the contract called mandatum, by which the owner of the property gives the master power to dispose of it, and the contract of partnership, in virtue of which, the profits are to be divided between them. One party runs the risk of losing his capital, the other his labor. If the sale produces no more than first cost, the owner takes all the proceeds; it is only the profits which are to be divided.
Accommodation
Contracts. An amicable agreement or composition between two contending parties.
Accomodation
Com. law. That which is done by one merchant or other person for the convenience of some other, by accepting or endorsing his paper, or by lending him his notes or bills.
Accomplice
In fraud, a partner to the fraud scheme.
Accord
A satisfaction agreed upon between the parties in a lawsuit which bars subsequent actions on the claim.
Accouchement
The act of giving birth to a child. The fact of the accouchement may be proved by the direct testimony of one who was present, as a physician, a midwife, or other person.
Account
Practice. 1) A statement of the receipts and payments of an executor, administrator, or other trustee, of the estate confided to him. 2) An account is also the statement of two merchants or others who have dealt together, showing the debits and credits between them.
Account current
A running or open account between two persons.
Account in bank
Com. law. 1) A fund which merchants, traders and others have deposited into the common cash of some bank, to be drawn out by checks from time to time as the owner or depositor may require. 2) The statement of the amount deposited and drawn, which is kept in duplicate, one in the depositor's bank book, and the other in the books of the bank
Account of sales
Common law. An account delivered by one merchant or tradesman to another, or by a factor to his principal, of the disposal, charges, commissions and net proceeds of certain merchandise consigned to such merchant, tradesman or factor, to be sold.
Account-book
A book kept by a merchant, trader, mechanic, or other person, in which are entered from time to time the transactions of his trade or business.
Accountant
1) One who is versed in accounts; 2) A person or officer appointed to keep the accounts of a public company; 3) He who renders to another or to a court a just and detailed statement of the administration of property which he holds as trustee, executor, admnistrator or guardian.
Accounting period
An accounting period runs from one accounting reference date to the next (not less than six months and not more than eighteen months) for which a company prepares financial statements and statutory accounts. The profit and loss account relates to the whole period but the balance sheet is taken on the last day of this period.
Accounting reference date
The Accounting Reference Date is the date on which the financial year of a company ends, defining the period for which its statutory accounts are to be prepared.
Accouple
To accouple is to marry
PREVIOUS AND NEXT TERMS--------------------------------------
Accomenda
Martial law. In Italy, is a contract which takes place when an individual entrusts personal property with the master of a vessel, to be sold for their joint account. In such case, two contracts take place; first, the contract called mandatum, by which the owner of the property gives the master power to dispose of it, and the contract of partnership, in virtue of which, the profits are to be divided between them. One party runs the risk of losing his capital, the other his labor. If the sale produces no more than first cost, the owner takes all the proceeds; it is only the profits which are to be divided.
Accommodation
Contracts. An amicable agreement or composition between two contending parties.
Accomodation
Com. law. That which is done by one merchant or other person for the convenience of some other, by accepting or endorsing his paper, or by lending him his notes or bills.
Accomplice
In fraud, a partner to the fraud scheme.
Accord
A satisfaction agreed upon between the parties in a lawsuit which bars subsequent actions on the claim.
Accord and satisfaction
Accouchement
The act of giving birth to a child. The fact of the accouchement may be proved by the direct testimony of one who was present, as a physician, a midwife, or other person.
Account
Practice. 1) A statement of the receipts and payments of an executor, administrator, or other trustee, of the estate confided to him. 2) An account is also the statement of two merchants or others who have dealt together, showing the debits and credits between them.
Account current
A running or open account between two persons.
Account in bank
Com. law. 1) A fund which merchants, traders and others have deposited into the common cash of some bank, to be drawn out by checks from time to time as the owner or depositor may require. 2) The statement of the amount deposited and drawn, which is kept in duplicate, one in the depositor's bank book, and the other in the books of the bank
Account of sales
Common law. An account delivered by one merchant or tradesman to another, or by a factor to his principal, of the disposal, charges, commissions and net proceeds of certain merchandise consigned to such merchant, tradesman or factor, to be sold.
RELATED TERMS--------------------------------------
Term
1) Construction. Word; expression speech. 2) Contracts. This word is used in the civil, law to denote the space of time granted to the debtor for discharging his obligation; there are express terms resulting from the positive stipulations of the agreement; as, where one undertakes to pay a certain sum on a certain day and also terms which tacitly result from the nature of the things which are the object of the engagement, or from the place where the act is agreed to be done. For instance, if a builder engage to construct a house for me, I must allow a reasonable time for fulfilling his engagement. 3) Estates. The limitation of an estate, as a term for years, for life, and the like. The word term does not merely signify the time specified in the lease, but the estate also and interest that passes by that lease; and therefore the term may expire during the continuance of the time, as by surrender, forfeiture and the like. 4) Practice. The space of time during which a court holds a session; sometimes the term is a monthly, at others it is a quarterly period, according to the constitution of the court.
Contract
A negotiated oral or written agreement setting forth the terms for an exchange of value between parties (which may be individuals or companies) and under which each party promises to perform an obligation. Certain terms, such as the obligations to be performed and the terms for setting price or compensation must be mutually understood, known in legal lingo as a "meeting of the minds," and promised to by the parties to form a legal contract.
Party
Practice, contracts. When applied to practice, by party is understood either the plaintiff or defendant. In contracts, a party is one or more persons who engage to perform or receive the performance of some agreement.
Obligation
In its general and most extensive sense, obligation is synony- mous with duty. In a more technical meaning, it is a tie which binds us to pay or to do something agreeably to the laws and customs of the country in which the obligation is made.
Compensation
1) Contracts. A reward for services rendered. 2) Crim. law; Compeusatio crimiuura, or recrimination. 3) Remedies. The damages recovered for an injury, or the violation of a contract.
Money
Gold, silver, and some other less precious metals, in the progress of civilization and commerce, have become the common standards of value; in order to avoid the delay and inconvenience of regulating their weight and quality whenever passed, the governments of the civilized world have caused them to be manufactured in certain portions, and marked with a Stamp which attests their value; this is called money.
Lieu
Place. Iu lieu of, instead, in the place of.
SIMILAR TERMS--------------------------------------
Accomenda
Martial law. In Italy, is a contract which takes place when an individual entrusts personal property with the master of a vessel, to be sold for their joint account. In such case, two contracts take place; first, the contract called mandatum, by which the owner of the property gives the master power to dispose of it, and the contract of partnership, in virtue of which, the profits are to be divided between them. One party runs the risk of losing his capital, the other his labor. If the sale produces no more than first cost, the owner takes all the proceeds; it is only the profits which are to be divided.
Accommodation
Contracts. An amicable agreement or composition between two contending parties.
Accomodation
Com. law. That which is done by one merchant or other person for the convenience of some other, by accepting or endorsing his paper, or by lending him his notes or bills.
Accomplice
In fraud, a partner to the fraud scheme.
Accord
A satisfaction agreed upon between the parties in a lawsuit which bars subsequent actions on the claim.
Accouchement
The act of giving birth to a child. The fact of the accouchement may be proved by the direct testimony of one who was present, as a physician, a midwife, or other person.
Account
Practice. 1) A statement of the receipts and payments of an executor, administrator, or other trustee, of the estate confided to him. 2) An account is also the statement of two merchants or others who have dealt together, showing the debits and credits between them.
Account current
A running or open account between two persons.
Account in bank
Com. law. 1) A fund which merchants, traders and others have deposited into the common cash of some bank, to be drawn out by checks from time to time as the owner or depositor may require. 2) The statement of the amount deposited and drawn, which is kept in duplicate, one in the depositor's bank book, and the other in the books of the bank
Account of sales
Common law. An account delivered by one merchant or tradesman to another, or by a factor to his principal, of the disposal, charges, commissions and net proceeds of certain merchandise consigned to such merchant, tradesman or factor, to be sold.
Account-book
A book kept by a merchant, trader, mechanic, or other person, in which are entered from time to time the transactions of his trade or business.
Accountant
1) One who is versed in accounts; 2) A person or officer appointed to keep the accounts of a public company; 3) He who renders to another or to a court a just and detailed statement of the administration of property which he holds as trustee, executor, admnistrator or guardian.
Accounting period
An accounting period runs from one accounting reference date to the next (not less than six months and not more than eighteen months) for which a company prepares financial statements and statutory accounts. The profit and loss account relates to the whole period but the balance sheet is taken on the last day of this period.
Accounting reference date
The Accounting Reference Date is the date on which the financial year of a company ends, defining the period for which its statutory accounts are to be prepared.
Accouple
To accouple is to marry
PREVIOUS AND NEXT TERMS--------------------------------------
Accomenda
Martial law. In Italy, is a contract which takes place when an individual entrusts personal property with the master of a vessel, to be sold for their joint account. In such case, two contracts take place; first, the contract called mandatum, by which the owner of the property gives the master power to dispose of it, and the contract of partnership, in virtue of which, the profits are to be divided between them. One party runs the risk of losing his capital, the other his labor. If the sale produces no more than first cost, the owner takes all the proceeds; it is only the profits which are to be divided.
Accommodation
Contracts. An amicable agreement or composition between two contending parties.
Accomodation
Com. law. That which is done by one merchant or other person for the convenience of some other, by accepting or endorsing his paper, or by lending him his notes or bills.
Accomplice
In fraud, a partner to the fraud scheme.
Accord
A satisfaction agreed upon between the parties in a lawsuit which bars subsequent actions on the claim.
Accord and satisfaction
Accouchement
The act of giving birth to a child. The fact of the accouchement may be proved by the direct testimony of one who was present, as a physician, a midwife, or other person.
Account
Practice. 1) A statement of the receipts and payments of an executor, administrator, or other trustee, of the estate confided to him. 2) An account is also the statement of two merchants or others who have dealt together, showing the debits and credits between them.
Account current
A running or open account between two persons.
Account in bank
Com. law. 1) A fund which merchants, traders and others have deposited into the common cash of some bank, to be drawn out by checks from time to time as the owner or depositor may require. 2) The statement of the amount deposited and drawn, which is kept in duplicate, one in the depositor's bank book, and the other in the books of the bank
Account of sales
Common law. An account delivered by one merchant or tradesman to another, or by a factor to his principal, of the disposal, charges, commissions and net proceeds of certain merchandise consigned to such merchant, tradesman or factor, to be sold.
We thank you for using the Juridical Dictionary to search for Accord and satisfaction. If you have a better definition for Accord and satisfaction than the one presented here, please let us know by making use of the suggest a term option. This definition of Accord and satisfaction may be disputed by other professionals. Our attempt is to provide easy definitions on Accord and satisfaction and any other medical topic for the public at large.
This dictionary contains 8526 terms.
|
|