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Account stated


Account stated: Under United States law, account stated is a statement between a creditor and a debtor based upon a series of prior transactions that a particular amount is owed to the creditor as of a certain date. Often the account stated is a bill, invoice or a summary of invoices, signed by the customer or sent to the customer who pays part or all of it without protest.

Printed dictionaries and other books with definitions for Account stated

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Google previewReports of Cases Argued and Determined in the English Courts of Common Law (1865)

With Tables of the Cases and Principal Matters

179, that the omission of time in the count on an account stated is a good ground of objection ; and Spyer v. Thelwell, 2 Cro. M. & R. 692, S. C. Tyr. & Gr. 191, accords with that decision. In those cases the count said ...

Google previewA Selection of Leading Cases on Pleading and Parties to Actions (1847)

With Practical Notes Elucidating the Principles of Pleading (as Exemplified in Cases of Most Frequent Occurrence in Practice) by a Reference to the Earliest Authorities : and Designed to Assist Both the Practitioner and the Student by William Francis Finlason

For, " an account stated is an agreement by both parties that any items are true ; the only consideration, for the promise, is the stating the account." (Truman v. Hurst, 1 T.R. 42.) So, (per Coleridge, J., 10 Jurist, 471,) "the account stated is fresh matter, and consideration for a fresh promise." And all this is obvi- ouslyas applicable to one item as several. But it is most important to observe that the admission of an account as due, which is usually the only evidence under this count, is at the ...

Google previewThe Irish Jurist (1862)

The count ou an account stated is a count on the bill of exchange. There might be more difficulty in proving the second count because it would be necessary to shew something transacted between the parties over and above the endorsement of the bill of exchange, but the plaintiff cannot recover at all if the first count be not substantially true. Having disposed of this point in the plaintiff's favor, we are next to consider the effect of the defendant's affidavit. The third section uf the Act is as ...

Google previewA Law Dictionary, Adapted to the Constitution and Laws of the United States of America and of the Several States of the American Union (1871)

With References to the Civil and Other Systems of Foreign Law by John Bouvier

ACCOUNT STATED. An agreed balance of /iccounts. An account which has been examined and accepted by the parties. 2 Atk. Ch. 251. In Equity. Acceptance may be inferred from circumstances, as where an account is rendered to a merchant, and no objection is made, after ...

Google previewDictionary of International Trade Finance Terms (2001)

by Mike Hammett

account stated An account consisting of items that both parties concerned have agreed as being correct; any balance is thereby also agreed. account statement A written summary of all the amounts withdrawn and all deposits credited to a customer's account within a given period and showing the balance as at the date of the ...

Google previewInternational Dictionary of Banking and Finance (2013)

by John Clark

account stated Account consisting of items that both parties concerned have agreed as being correct; any balance is thereby also agreed. accredited ...

Google previewDictionary of International Banking and Finance Terms (2001)

by John Owen Edward Clark

account stated Account consisting of items that both parties concerned have agreed as being correct; any balance is thereby also agreed. accredited Describes someone who is authorized to act on behalf of a company or individual . accrual Gradual increase by addition over a period of time. See also accrued charges. accruals concept Principle used in accounting by which income and expenditure are taken into the profit and loss account for the period in which they occur.

Google previewDictionary of International Business Terms (2001)

by John Owen Edward Clark

account stated Legally binding account that shows an agreed ...

Google previewA law dictionary for the use of students and the legal profession (1875)

by Archibald Brown

ACCOUNT STATED. This is nothing more than the admission of a balance due from one party to another; and that balance being due there is a debt; and the ...

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