Satisfaction is the fulfillment of an obligation. The term is often used in the context of contract law when one performs their duties under the contract. The term is also often found in the context of judgments in determining whether a party discharged their liability from a judgment. For example, in Lovejoy v. Murray, the United States Supreme Court considered the effect of partial satisfaction of a previous judgment.
[Last updated in April of 2021 by the Wex Definitions Team]