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accord

noun/əˈkɔːd/

B2CEFR level
40/100Rarity: uncommon
TechnicalRegister

An agreement to accept a different performance in satisfaction of an existing obligation, which discharges the debt once executed.

The parties reached an accord under which the reduced sum, once paid, would extinguish the whole claim.

Similar: settlement

Topic: Advanced English in Legal English

Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.

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