Accord – an agreement, compact, or treaty: an offer to give or to accept a stipulated performance in the future to satisfy an obligor’s existing duty, together with an acceptance of that offer

accord:
noun

1. Literally, an agreement; in law, an agreement by one party to give or perform, and by the other to accept, in settlement of an existing claim, something other than that which is claimed to be due.  1 Am J2d Accord § 1. [1]

1. Agreement; an agreement. [2]

1. An amicable arrangement between parties, especially between peoples or countries; compact; treaty.

2. An offer to give or to accept a stipulated performance in the future to satisfy an obligor’s existing duty, together with an acceptance of that offer.  *  The performance becomes what is known as a satisfaction. — aka executory accord; accord executory. [3]

     Excerpt from Restatement (Second) of Contracts (1979):

     “An accord is a contract under which an obligee promises to accept a stated performance in satisfaction of the obligor’s existing duty.  Performance of the accord discharges the original duty. [4]

     Excerpt from E. Allan Farnsworth’s Contracts (3d ed. 1999):

      “The term executory accord is sometimes used to underscore the point that the accord itself does not discharge the duty.  It also reflects an historical anachronism, not generally rejected, under which an unperformed accord was not a defense to an action on the underlying duty. [5]

3. A signal used in a legal citation to introduce a case clearly supporting a proposition for which another case is being quoted directly or to indicate that the law of one jurisdiction is consistent with that of another.

accord:
verb

2. To coincide with.  USAGE: “That accords with what I have been told.

3. To grant; to confer.  USAGE: “We must accord the instructor the respect she is due.

4. verb: To furnish or grant, especially what is suitable or proper <accord the litigants a stat of costs pending appeal>.

2. To agree <they accord in their opinions>. [3]

See accord and satisfaction; satisfaction. Cf. Compromise; novation.

References:

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[1]: Ballantine’s Law Dictionary with Pronunciations
Third Edition by James A. Ballantine (James Arthur 1871-1949).  Edited by William S. Anderson.  © 1969 by THE LAWYER’S CO-OPERATIVE PUBLISHING COMPANY.  Library of Congress Catalog Card No. 68-30931

[2]: Ballantine’s Law Dictionary Legal Assistant Edition by Jack Ballantine (James Arthur 1871-1949).  Doctored by Jack G. Handler, J.D. © 1994 Delmar by Thomson Learning.  ISBN 0-8273-4874-6.

[3]: Black’s Law Dictionary Deluxe Tenth Edition by Henry Campbell Black, Editor in Chief Bryan A. Garner. ISBN: 978-0-314-61300-4

[4]: Restatement (Second) of Contracts § 282(1) (1979).

[5]: E. Allan Farnsworth, Contracts § 4.24, at 289 n. 10 (3d ed. 1999).

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