Satisfaction Piece Law and Legal Definition
Satisfaction piece refers to an official instrument which acknowledges that an obligation is satisfied. For example, a lender acknowledging the satisfaction of a debt.
A satisfaction piece executed by attorneys of record within two years after entry of judgment, although acknowledged after such period, should be accepted and filed by county clerk. [Mutual Life Ins. Co. v. 960 Fifth Ave. Corp., 191 Misc. 71 (N.Y. Misc. 1947)]
In Lownds v. Remsen, 7 Wend. 35 (N.Y. 1831), the court held that “a satisfaction-piece is not a record; until entered on the roll, it does not partake of the nature of a record, nor does the statutory provision on the subject directing the mode of its acknowledgment give it that character or effect.”
Legal Definition list
- Satisfaction Of Mortgage
- Satisfaction of Judgment
- Satisfaction Guaranteed
- Satisfaction by Legacy
- Satisfaction
- Satisfaction Piece
- Satisfactory Evidence
- Satisfactory Progress [Education]
- Satisfactory Property Interest [Aeronautics and Space]
- Satisfactory Repayment Arrangement [Education]
- Satisfactory Site [Education]
