Accord And Satisfaction
Accord and satisfaction is the purchase of the release from a debt obligation. The payment is typically less than what is owed and is not paid by the actual performance of the original obligation. The accord is the agreement to discharge the obligation and the satisfaction is the legal consideration which binds the parties to the agreement.
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Closing Transaction
The fulfillment of a contract that causes an existing investment to end. A sale could be a closing a transaction for a long position, and a purchase could be a closing position for a short position....
