An accord may not amount to an extinguishment of the original debt but may extend only to suspend the execution or collection thereof for a limited time; in the meantime, an action on the original debt cannot be sustained. History. Orig. Code 1863, § 2820; Code 1868, § 2828; Code 1873, § 2879; Code 1882, […]
Accord and satisfaction occurs where the parties to an agreement, by a subsequent agreement, have satisfied the former agreement, and the latter agreement has been executed. The execution of a new agreement may itself amount to a satisfaction of the former agreement, where it is so expressly agreed by the parties; and, without such agreement, […]
An accord and satisfaction must be of some advantage, legal or equitable, to the creditor or it shall not have the effect of barring him from his legal rights under the original agreement. History. Orig. Code 1863, § 2821; Code 1868, § 2829; Code 1873, § 2880; Code 1882, § 2880; Civil Code 1895, § […]
Except as otherwise provided in this Code section, an agreement by a creditor to receive less than the amount of his debt cannot be pleaded as an accord and satisfaction unless it is actually executed by the payment of the money, the giving of additional security, the substitution of another debtor, or some other new […]
An accord and satisfaction is binding upon both parties. History. Orig. Code 1863, § 2823; Code 1868, § 2831; Code 1873, § 2882; Code 1882, § 2882; Civil Code 1895, § 3736; Civil Code 1910, § 4330; Code 1933, § 20-1205. Law reviews. For comment on Chocran v. Bell, 102 Ga. App. 617 , 117 […]
