(A) practice. An entry made on the record, by which a party in whose favor a judgment was rendered, declares that he has been satisfied and paid. (B) construction by courts of equity. Satisfaction is defined to be the donation of a thing, with the intention, express or implied, that such donation is to be an extinguishment of some existing right or claim in the donee. 2. Where a person indebted bequeaths to his creditor a legacy, equal to, or exceeding the amount of the debt, which is not noticed in the will, courts of equity, in the absence of any intimation of a contrary intention, have adopted the rule that the testator shall be presumed to have meant the legacy as a satisfaction. of the debt. 3. When a testator, being indebted, bequeaths to his creditor a legacy, simpliciter, and of the same nature as the debt, and not coming within the exceptions stated in the next paragraph, it has been held a satisfaction of the debt, when the legacy is equal to, or exceeds the amount of the debt. (C) civil law. This word is derived from the same root as satisfaction; for, in the same manner that to fulfill the demand which is made upon us, is called satisfaction, so satisfaction takes place when he who demands something has agreed to receive sureties instead of the thing itself.
Law Dictionary – Alternative Legal Definition
The act of satisfying a party by paying what is due to him, (as on a mortgage, lien, or contract,) or what is awarded to him, by the judgment of a court or otherwise. Thus, a judgment is satisfied by the payment of the amount due to the party who has recovered such judgment or by his levying the amount See Miller v. Beck, 108 Iowa, 575, 79 N. W. 344; Rivers v. Blom, 163 Mo. 442, 63 S. W. 812; Mazyck v. Coil, 3 Rich. Law (S. C.) 236; Green v. Green, 49 Ind. 423; Bryant v. Fairfield, 51 Me. 152; Armour Bros. Banking Co. v. Add ington, 1 Ind. T. 304, 37 S. W. 100. In practice. An entry made on the record, by which a party in whose favor a judgment was rendered declares that he has been satisfied and paid. In equity. The doctrine of satisfaction in equity is somewhat analogous to performance in equity, but differs from it in this respect: that satisfaction is always something given either in whole or in part as a substitute or equivalent for something else, and not (as in performance) something that may be construed as the identical thing covenanted to be done. Brown. Satisfaction piece. In practice. A memorandum in writing, entitled in a cause, stating that satisfaction is acknowledged between the parties, plaintiff and defendant. Upon this being duly acknowledged and filed in the office where the record of the judgment is, the judgment becomes satisfied, and the defendant discharged from it 1 Archb. Pr. 722. Satisfaction should be made to that fund which has sustained the loss. 4 Bouv. Inst no 3731.