An Accord and Satisfaction Prevents a Creditor from Maintaining an Action

question 21

True/False

An accord and satisfaction prevents a creditor from maintaining an action to recover the remainder of the debt that he alleges is due.

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Definitions:

Foreign Currencies

Money or other forms of payment issued by a country other than one's own, used to facilitate international transactions.

Balance Of Trade

The difference between the value of a country's exports and the value of its imports over a certain period, reflecting the country's trade surplus or deficit.

Current Account Deficit

When a country's total imports of goods, services, and transfers exceed its total exports.

Foreigners

Individuals or entities from one country who are living in, conducting business, or present in another country.