Nature and effect of release......................................... 1820

Early law......................................................... 1821

Effect of statutes in regard to seals................................... 1822

Covenant to forbear................................................ 1823

Conditional releases................................................ 1824

Construction...................................................... 1825

Elements of rescission by parol agreement............................ 1826

Restoration of the status quo........................................ 1827

Written contracts may be varied by subsequent oral agreement.......... 1828

Rescission of unilateral contracts.................................... 1829

English decisions on parol discharge of unilateral contracts.............. 1830

American decisions................................................. 1831

Parol discharge of a party to a negotiable instrument - English law....... 1832

American law..................................................... 1833

Rescission of contracts under seal.................................... 1834

Variation of covenant by subsequent contract or waiver................ 1835

Modern relaxation of early rule...................................... 1836

Accords and similar agreements...................................... 1837

Definition of accord and satisfaction................................. 1838

Accord held not a valid contract - Petoe's Case........................ 1839

Later decisions.................................................... 1840

Effect of accord on previous cause of actions - intention of parties........ 1841

Accord no defence at common law................................... 1842

Even though full performance tendered, or part performance rendered.... 1843

Equitable relief for breach of promise to forbear....................... 1844

Accord should be specifically enforced................................ 1845

Accord may itself be taken as satisfaction and is then a bar............. 1846

Presumption that accord is not intended as satisfaction................. 1847

Consequence of non-performance of accord............................ 1848

Sealed contracts................................................... 1849

Debts of record.................................................... 1850

Requisites of satisfaction like those of consideration.................... 1851

Reasonableness of satisfaction....................................... 1852

Cases where satisfaction is ineffectual................................ 1853

Check sent in payment of disputed claim............................. 1854

Principles governing the question.................................... 1855

Inability to deny that an act was done on the only terms authorised...... 1856

Accord and satisfaction with a third person - English cases.............. 1857

American cases.................................................... 1858

Ratification by the debtor.......................................... 1859

Equitable defence.................................................. 1860

Rescission of arrangement.......................................... 1861

Accounts stated................................................... 1862

Form and evidence of an account stated.............................. 1863

Conclusiveness of an account stated.................................. 1864

Novation......................................................... 1865

Analysis of simple novations........................................ 1866

Analysis of compound novation...................................... 1867

Decisions recognising novations..................................... 1868

Requisites for a novation.......................................... 1869

Necessity for the assent of all parties to a simple novation.............. 1870

Necessity of the assent of all parties to a compound novation........... 1871

Necessity of valid obligations........................................ 1872

Conditional novations.............................................. 1873

Subsequent promise of a surety given in conformity with prior agreement of principal..................................................... 1874

Evidence of novation.............................................. 1875