An Accord and Its Satisfaction Do Not Discharge an Original

question 20

True/False

An accord and its satisfaction do not discharge an original contractual obligation.

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Definitions:

Globally

Refers to an action or concept considered or applied worldwide.

Petty Cash

A small amount of cash on hand used for covering minor and incidental expenses in an organization.

Payment

The act of transferring money or its equivalent in exchange for goods or services.

Postage Stamps

Adhesive paper evidence of prepayment for postal services, used to send letters and packages.