28-1-1402. Satisfaction -- definition and effect. Acceptance by the creditor of the consideration of an accord extinguishes the obligation and is called satisfaction.

     History: En. Sec. 2062, Civ. C. 1895; re-en. Sec. 4956, Rev. C. 1907; re-en. Sec. 7458, R.C.M. 1921; Cal. Civ. C. Sec. 1523; Field Civ. C. Sec. 734; re-en. Sec. 7458, R.C.M. 1935; R.C.M. 1947, 58-503.