Unformatted text preview: Iverson's use of the nickname, "The Answer," which was allegedly "developed and coined" by Blackmon. Issue: Is there a valid contract in between. Rule: The complaint was dismissed. Vocabulary Accord and satisfaction-An agreement for payment (or other performance) between two parties, one of whom has a right of action against the other. After the payment has been accepted or other performance has been made, the "accord and satisfaction" is complete and the obligation is discharged. Consideration Generally, the value given in return for a promise or a performance. The consideration, which must be present to make the contract legally binding, must be something of legally sufficient value and bargained for. Forbearance -The act of refraining from an action that one has a legal right to undertake. Release A contract in which one party forfeits the right to pursue a legal claim against the other party...
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- Spring '09
- Pleading, William, legally sufficient value, Jamil Blackmon, Forbearance -The act