Debt Satisfaction
Definitions
- (n.) The fulfillment or discharge of a debt by paying the owed amount or performing the agreed obligation, thereby extinguishing the debtor's liability.
The debtor’s satisfaction of the debt was confirmed by the creditor’s receipt of payment.
Related terms
See also
Commentary
Debt satisfaction commonly requires clear evidence of payment or performance; precise drafting should specify the conditions under which satisfaction occurs to avoid disputes.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.