Satisfaction
Legal Definition and Related Resources of Satisfaction
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Meanings, Synonyms, Etymology, Translations and More
Meaning of Satisfaction
To extinguish by performance or release and discharge of an obligation in reference to which the term is used. In equity , the term means the donation of a thing, with the intention , either express or implied , that it is to be taken either wholly or in part in extinguishment of some prior claim of the donee. Thus in many jurisdictions a legacy to a creditor of the estate , which legacy is of greater or equal value to the debt, is to be taken as a satisfaction of the debt. See, e.g., Dickson v Dickson, 180 Ky. 423, 202 S. W. 891.In relation to contracts, satisfaction is the execution of an accord , that is, an agreement whereby one party agrees to accept a consideration for another's liability different from that which could be claimable under the contractual or other liability of such other party. It is the consideration which makes the accord operative. See Homewood Dairy Products Co. v Robinson, 254 Ala. 197,48 So.2d28. Release from suspense, uncertainty or uneasiness; information that answers a person 's demands or needs. removal of doubt, conviction. In reference to judgments, the term means payment of money due on the judgment , which must be entered on the record. Also see accord and satisfaction.
Satisfaction Alternative Definition
(Lat. satis, enough, facto, to do, to make). In practice. An entry made on the record, by which a party in whose favor a judgment was rendered declares that he has been satisfied and paid.
Synonyms of Satisfaction
(Discharge of debt), noun
acquitment
acquittal
acquittance
amortizement
clearance
compensation
damages
defrayal
defrayment
discharge
guerdon
indemnification
indemnity
payment
quittance
receipted payment
recompense
recoupment
redress
reimbursement
release from debt
remuneration
reparation
repayment
requital
requitement
restitution
return
settlement
solatium
Associated Concepts: accord and satisfaction
ademption
reasonable satisfaction
satisfaction of lien
satisfaction piece
(Fulfilment), noun
accomplishment
achievement
appeasement
attainment
consummation
content
contentedness
contentment
enjoyment
expletio
fruition
gratification
pleasure
realization
reparation
success
sufficiency Associated Concepts: satisfaction ofjudgment
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Satisfaction in Historical Law
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Legal Abbreviations and Acronyms
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Related Legal Terms
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Mentioned in these terms
Accept, Accord And Satisfaction, Acquiescence, Adeem, Adjusted Taxable Income, Affirmative Defense, Amends, Arrangement, , Cesser, Proviso For, Comfort, Distress, Enjoy, Execution, Inchoate, Judgment In Quasi Rem, Justification, , Nominal Damages, On Account, Remedy, Reprisal, Residuary Clause, Residuary Devise, Satisfaction Piece, Security, Set-off, Special Verdict, Spendthrift Trust.
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Notice
This definition of Satisfaction is based on the The Cyclopedic Law Dictionary. This entry needs to be proofread.
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English Legal System: Accord And Satisfaction
In the context of the English law, A Dictionary of Law provides the following legal concept of Accord And Satisfaction: The purchase by one party to a contract of a release from his obligations under it when the other party has already performed his side of the bargain. A release of this one-sided nature constitutes a unilateral discharge of the contract; unless granted by deed, it can at common law be effected only by purchase, i.e. by a fresh agreement (accord) for which new consideration (satisfaction) is given. If, for example, A is due to pay £1000 on a particular date to B for contractual services rendered, B might agree to accept £900 paid on an earlier date, the earlier payment constituting satisfaction.
Compare bilateral discharge.
See also (promissory) estoppel.
Concept of Satisfaction in the context of Real Property
A short definition of Satisfaction: Discharge of an obligation by payment of the amount due, as on a mortgage, trust deed, or contract: or payment of a debt awarded, such as satisfaction of a judgment. Also the recorded instrument stating said payment has been made.
Concept of Satisfaction in the context of Real Property
A short definition of Satisfaction: Discharge of an obligation by payment of the amount due, as on a mortgage, trust deed, or contract: or payment of a debt awarded, such as satisfaction of a judgment. Also the recorded instrument stating said payment has been made.
Satisfaction
Satisfaction