Examlex
What should provide "a valid mirror on reality"?
Valid Consideration
Anything of value promised to another when making a contract that is legal and results in the formation of a binding agreement.
Uniform Commercial Code
An extensive collection of statutes that regulate every aspect of business dealings within the United States, aimed at standardizing the legal framework for sales and various commercial activities throughout the states.
Paid-In-Full
A status indicating that a debt or obligation has been completely settled or paid off.
Accord And Satisfaction
A legal agreement between parties to settle a dispute where the debtor agrees to pay a defined amount less than the creditor claims, which once paid, fulfills the obligation.
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