Accord and Satisfaction
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04.030 Accord and Satisfaction; Acceptance of Less than Amount of Debt
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04.030 Accord and Satisfaction; Acceptance of Less than Amount of Debt An agreement by a creditor to receive less than the amount of a debt cannot be pleaded as an accord and satisfaction, unless it is actually executed by the payment of the money, the giving of additional security, the substitution of another debtor, or some other new consideration. O.C.G.A. §13-4-103(a) Edwards Bottling Works v. Jarnagan & Wright, 11 Ga. App. 162(1) (1912) Rivers v. Cole Corp., 209 Ga. 406 (1952)
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