satisfaction

Act of satisfying; the state of being satisfied. Seago v. New York Cent. R. Co., 349 Mo. 1249,164 S.W.2d 336, 341.

The discharge of an obligation by paying a party what is due to him (as on a mortgage, lien, note, or contract), or what is awarded to him, by the judgment of a court or otherwise. Thus, a judgment is satisfied by the payment of the amount due to the party who has recovered such judgment, or by his levying the amount. The execution or carrying into effect of an accord. Jones v. Whiteley, 112 Idaho 886, 736 P.2d 1340, 1344.

The performance of a substituted obligation in return for the discharge of the original obligation. A legacy is deemed satisfied if the testator makes an inter vivos gift to the legatee with the intent that it be in lieu of the legacy. An entry made on the record, by which a party in whose favor a judgment was rendered declares that he has been satisfied and paid.

See also accord and satisfaction

- payment

- performance.

- accord and satisfaction

Equity.

The doctrine of satisfaction in equity is somewhat analogous to performance in equity, but differs from it in this respect: that satisfaction is always something given either in whole or in part as a substitute or equivalent for something else, and not (as in performance) something that may be construed as the identical thing covenanted to be done

@ satisfaction, contracts to

@ contracts to satisfaction

A class of contracts in which one party agrees to perform his promise to the satisfaction of the other. A contract for construction work "to the entire satisfaction of the owners" imports that the construction be to the satisfaction of a reasonable man and not to the personal satisfaction of owners

@ satisfaction of debt

See satisfaction

@ satisfaction of judgment

A document such as an execution enforced by the judgment creditor and indicate ing that the judgment has been paid.

See execution

@ satisfaction of lien

Document signed by a lien holder in which he releases the property subject to the lien

@ satisfaction of mortgage

A discharge signed by the mortgagee or holder of the mortgage indicating that the property subject to the mortgage is released or that the mortgage debt has been paid and that all terms and conditions of the mortgage have been satisfied.

See also redemption

@ satisfaction piece

A memorandum in writing, entitled in a cause, stating that satisfaction is acknowledged between the parties, plaintiff and defendant. Upon this being duly acknowledged and filed in the office where the record of the judgment is, the judgment becomes satisfied, and the defendant discharged from it.

See New York CPLR No. 5020.

Also referred to as "certificate of discharge.

See discharge

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