An obligation is extinguished by a release therefrom given to the debtor by the creditor upon a new consideration or in writing with or without new consideration.
Structure Code of Alabama
Title 8 - Commercial Law and Consumer Protection.
Article 2 - Accord and Satisfaction.
Section 8-1-20 - "Accord" Defined.
Section 8-1-21 - Obligation Not Extinguished by Accord Until Executed.
Section 8-1-22 - Accepting Accord Consideration Deemed Satisfaction.
Section 8-1-23 - Obligation Extinguished by New Consideration or Writing.