Alabama Code 8-1-20. “Accord” defined
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Terms Used In Alabama Code 8-1-20
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- person: includes a corporation as well as a natural person. See Alabama Code 1-1-1
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 claiming or entitled.