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the Georgia Code
2006 Georgia Code - 13-4-103
13-4-103. (a) Except as otherwise provided in this Code
section, an agreement by a creditor to receive less than the amount
of his debt cannot be pleaded as an accord and satisfaction unless
it is actually executed by the payment of the money, the giving of
additional security, the substitution of another debtor, or some
other new consideration. (b)
Acceptance by a creditor of a check, draft, or money order marked
'payment in full' or with language of equivalent condition, in an
amount less than the total indebtedness, shall not constitute an
accord and satisfaction unless: (1) A bona fide dispute or controversy exists as
to the amount due; or (2)
Such payment is made pursuant to an independent agreement between
the creditor and debtor that such payment shall satisfy the
debt.
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