A B C D E F G H I J K L M N O P R S T U V W
Ab Ac Ad Af Al Am An Ar As At Au Av
Acc Act

Accord and satisfaction

A discharge of a contract or cause of action pursuant to which the parties agree (the accord) to alter their obligations and to perform new obligations (the satisfaction). For example, a seller who cannot obtain red fabric to meet the…

Read More

Act of God

The operation of uncontrollable natural forces. This expression is used in force majeure contract clauses that excuses a party who breaches the contract when performance is prevented by the occurrence of certain events. See force majeure clause.

Read More