California CodesCivil Code - CIVDivision 3 — ObligationsPart 1 — Obligations in GeneralTitle 4 — Extinction of ObligationsChapter 4 — Accord and Satisfaction [1521 – 1526]Section 1521
Section Fifteen Hundred and Twenty-one. An accord is an agreement to accept, in extinction of an obligation, something different from or less than that to which the person agreeing to accept is entitled.
Notes
Defines an accord as an agreement in which a person entitled to performance agrees to accept something different from, or less than, what is owed in order to extinguish the existing obligation. The agreement substitutes the agreed alternative performance for the original obligation if accepted as satisfaction.
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Lexinter.net | California Code, Civil Code - CIV § [1521.] | https://laws.lexinter.net/codes/california/civil-code/division-3/part-1/title-4/chapter-4/section-1521