2005 North Carolina Code - General Statutes § 1-540. By agreement receipt of less sum is discharge.
SUBCHAPTER XV. INCIDENTAL PROCEDURE IN CIVIL ACTIONS.
Article 44.
Compromise.
§ 1‑540. By agreement receipt of less sum is discharge.
In all claims, or money demands, of whatever kind, and howsoever due, where an agreement is made and accepted for a less amount than that demanded or claimed to be due, in satisfaction thereof, the payment of the less amount according to such agreement in compromise of the whole is a full and complete discharge of the same. (1874‑5, c. 178; Code, s. 574; Rev., s. 859; C.S., s. 895.)
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