Account Stated

June 3, 2024

A document or agreement between a creditor and a debtor confirming that a specific amount of money is owed by the debtor as of a particular date. This is typically represented by a bill, invoice, or a summary of invoices, which the customer may sign or partially pay without objection. The concept is significant in legal cases where a creditor sues for “account stated,” as it simplifies the process by establishing both the debtor’s liability and the precise amount owed, avoiding the complexities of proving a debt is due and payable.


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