Title 13, Chapter 4, Section 101
Accord and satisfaction occurs where the parties to an agreement, by
a subsequent agreement, have satisfied the former agreement, and the
latter agreement has been executed. The execution of a new agreement
may itself amount to a satisfaction of the former agreement, where
it is so expressly agreed by the parties; and, without such
agreement, if the new promise is founded on a new consideration, the
taking of it is a satisfaction of the former agreement.