Practice Quiz

Paralegal Exam Prep

Category - Contracts

Start a Study Session Sign up for Question of the Day
Which of the following demonstrates the doctrine of accord and satisfaction?
  1. Gina owes Georgina $300 for consulting services that Georgina provided. Gina offers Georgina artwork valued at $400 to pay for the consulting services. Georgina declines the artwork.
  2. Gina owes Georgina $300 for consulting services that Georgina provided. Gina offers Georgina artwork valued at $400 to pay for the consulting services. Georgina accepts the artwork.
  3. Gina owes Georgina $300 for consulting services that Georgina provided. Gina writes Georgina a check for $300.
  4. Gina owes Georgina $300 for consulting services that Georgina provided. Gina gives Georgina $300 in cash.
  5. Gina owes Georgina $300 for consulting services that Georgina provided. Gina does not pay Georgina.
Explanation
Answer: B. The following demonstrates the doctrine of accord and satisfaction: Gina owes Georgina $300 for consulting services that Georgina provided. Gina offers Georgina artwork valued at $400 to pay for the consulting services. Georgina accepts the artwork. Accord and satisfaction occurs when a party to a contract offers alternative performance to satisfy his or her obligation under the contract and the other party agrees.
Previous Next
Was this helpful? Upvote!
Login to contribute your own answer or details
Start a Study Session Sign up for Question of the Day

Top questions

Related questions

Most popular on PracticeQuiz