District of Columbia Account Stated for Construction Work refers to a legal concept and a type of claim made by contractors, subcontractors, suppliers, and other parties involved in construction projects in the District of Columbia. It involves a formal communication between the parties in which one party presents a statement of account to the other party that details the amount owed for construction work performed or materials supplied. The concept of Account Stated arises from the agreement between the parties, either explicit or implied, where they have previously conducted business transactions, and the recipient of the statement has confirmed or accepted the accuracy and validity of the statement by either express agreement or by failing to object within a reasonable period. The District of Columbia recognizes Account Stated as a legal claim for construction work, providing a mechanism for parties to seek payment for completed work and supplies even if there is no written contract in place. This is particularly relevant in the construction industry, where written contracts can sometimes be absent due to the nature of the work or the parties involved. Different types of District of Columbia Account Stated for Construction Work may include: 1. General Contractor Account Stated: When the general contractor presents a statement of account to the property owner or developer for the completed construction work, subcontractor payments, and materials supplied. 2. Subcontractor Account Stated: When a subcontractor presents a statement of account to the general contractor for the work PERCO.
District of Columbia Account Stated for Construction Work
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