As in the case of contracts generally,1 a contract of accord and satisfaction may be avoided for fraud.2 Whether it is necessary that the party who seeks to avoid such contract should restore the consideration, is a question upon which, as in other cases, there is a conflict of authority. Restitution is generally held to be necessary if it is not conceded that the amount paid over is due in any event.3 It is said that if such party is entitled to retain the amount received by him under such accord and satisfaction in any event, it is not necessary that he should restore such amount as a condition precedent to an accord and satisfaction and recovering the amount which he claims to be due.4 As in the case of other contracts,5 a contract of accord and satisfaction, which is to take effect upon the happening of some specified event, is inoperative unless such event takes place.6 A contract of accord and satisfaction, which is to take effect if a third person gives a specified certificate, is inoperative if such certificate is refused.7