Contracts
In South Carolina, 'accord and satisfaction' in the context of a real estate contract means:
ABoth parties agree to move the closing date
BA new agreement (accord) that replaces an existing dispute, and its performance (satisfaction) discharges the original claim✓ Correct
CThe parties are satisfied with the property condition
DA mutual agreement on the listing price
Explanation
Accord and satisfaction is a contract law concept where parties resolve a dispute by agreeing to accept a different performance (accord) in lieu of the original obligation, and upon completion of the new performance (satisfaction), the original claim is discharged.
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