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19 September, 12:27

An agreement to settle a debt for less than the sum claimed is referred to as?

a.? rescission.

b. a satisfaction.

c.? an accord.

d.? a promisory estoppel.

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Answers (1)
  1. 19 September, 16:19
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    An agreement to settle a debt for less than is owed is called an Accord and Satisfaction. this is because the accord is the original debt, and the term for the re-structured settlement. The satisfaction is the actual payment of that debt. Therefore, accord and satisfaction could be re-written as new agreement and payment.
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