In the civil and Scotch law. A release made by a creditor to his debtor of his debt, without receiving any consideration. AyL Pand. tit. 26, p. 570. It is a species of donation, but not subject to the forms of the latter, and is valid unless In fraud of creditors. Merl. Repert. The verbal extinction of a verbal contract, with a declaration that the debt has been paid when it has not; or the acceptance of something merely imaginary in satisfaction of a verbal contract Sandars’ Just Inst (5th Ed.) 386.
Law Dictionary – Alternative Legal Definition
contracts. In the civil law, is a release made by a creditor to his debtor of his debt, without receiving any consideration. It is a species of donation, but not subject to the forms of the latter, and is valid, unless in fraud of creditors. Acceptilation may be defined verborum conceptio qua creditor debitori, quod debet, acceptum fert; or, a certain arrangement of words by which on the question of the debtor, the creditor, wishing to dissolve the obligation, answers that he admits as received, what in fact, he has not received. The acceptilation is an imaginary payment.