Select Cases Reported in the Several Courts of the United States and Great Britain in the Years 1848, 1849, and 1850, Vol. 10: Some Entire, but Mostly in a Condensed Form (Classic Reprint) - Softcover

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Excerpt from Select Cases Reported in the Several Courts of the United States and Great Britain in the Years 1848, 1849, and 1850, Vol. 10: Some Entire, but Mostly in a Condensed Form

An agreement, by a creditor, to accept a part of an admitted debt in satisfaction of the whole, without any other consideration, is not suffi cient to discharge the debtor from the payment of the residue. But if the debtor, in addition to the agreement to pay part of the debt, gives to the creditor any thing which in judgment of law can be considered a benefit to him, and the creditor accepts it as a satisfaction of the whole liability of the debtor, it is a good accord and satisfaction to release the debtor from further liability.

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