Discharge By Agreement Section 63

Agreement refers to an agreement by which a person agrees, after an infringement, to accept a valuable consideration instead of the right of recourse he has against the other party. And satisfaction relates to the performance of the obligation that was made from the new contract after the infringement occurred. The performance of a contract by agreement and satisfaction means the performance of the initial contract due to the performance of the new obligations replaced. The reduction implies the recognition of a lesser exposure which, in reality, was due under the agreement. Pursuant to section 63, a meeting may deposit or transfer performance of the security provided to it, in whole or to a limited extent. He may also extend the time of such execution or recognize any accomplishment he deems just. A guarantee to do so binds, despite the fact that there is no idea.