What best describes accord and satisfaction?

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Accord and satisfaction is a settlement where the debtor offers to perform something different from the original obligation, and the creditor agrees that this alternative will discharge the debt. The key element is substitution: the creditor accepts the new performance as full satisfaction of the original claim, and once that new performance is completed, the original obligation is extinguished. It’s not a breach; it’s a negotiated deal that ends the dispute by substituting a different form of performance for the original one. The creditor’s acceptance is essential, and the substitute must be performed for the debt to be discharged.