The Law Dictionary

Law Dictionary

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ACCOUNT STATED

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The settlement of an account between the parties, by which a balance is struck in favor of one of them, is called an account stated. 2. An acknowledgment of a single item of debt due from the defendant to the plaintiff is sufficient to support a count on an account stated. 3. It is proposed to consider, 1st, by whom an account may, be stated; 2d, the manner of stating the … [Read more...] about ACCOUNT STATED

ACCOUNTS PAYABLE

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The sum of all money or accounts a business owes to other parties. This term is usually used with regard to a company balance sheet (in the liabilities section) that is the sum total of all the credit accounts that a company has open and is outstanding and due. … [Read more...] about ACCOUNTS PAYABLE

ACCOUNT, or ACCOUNT RENDER

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In practice. "Account," sometimes called "account render," was a form of action at common law against a person who by reason of some fiduciary relation (as guardian, bailiff, receiver, etc.) was bound to render an account to another, but refused to do so. Fitzh. Nat. Brev. 116; Co. Litt. 172; Griffith v. Willing, 3 Bin. (Pa.) 317; Travers v. Dyer, 24 Fed. Oas. 142; Stevens v. … [Read more...] about ACCOUNT, or ACCOUNT RENDER