Illinois Acknowledgment by Debtor of Correctness of Account Stated

• Category: Contracts - Acknowledgments
• State: Multi-State
• Control #: US-0036BG
• Format: Word; Rich Text

Description

An account stated must be based on the parties' mutual assent; it must appear, at the time of the statement, that indebtedness from one party to the other existed and that a balance was then struck and agreed to be the correct sum owing from the debtor to the creditor. There must be an exact, certain, and definite balance arrived at by the debtor and creditor. The Illinois Acknowledgment by Debtor of Correctness of Account Stated is a legal document used in the state of Illinois to verify and confirm the accuracy of a financial account. This document is often used in situations where there is a dispute or disagreement regarding an account between a creditor and a debtor. The purpose of this acknowledgment is to officially recognize that the debtor has received and reviewed the account statement from the creditor and acknowledges that it is correct and accurate. This serves as evidence that the debtor has been made aware of the account balance, charges, payments, and any other relevant information included in the statement. Keywords associated with this acknowledgment include Illinois, acknowledgment, debtor, correctness, account stated, accuracy, financial account, dispute, creditor, balance, charges, payments, and evidence. It is important to note that there may be different types of Illinois Acknowledgments by Debtor of Correctness of Account Stated, depending on the specific circumstances and requirements of the situation. Some possible variations may include: 1. General Acknowledgment: This type of acknowledgment is a general statement confirming the debtor's understanding and agreement with the correctness of the entire account stated. 2. Partial Acknowledgment: In cases where there is a dispute or disagreement over specific charges or items in the account, a partial acknowledgment may be used to confirm the correctness of the account except for those specific disputed items. 3. Conditional Acknowledgment: This type of acknowledgment may be used when the debtor agrees to acknowledge the correctness of the account stated only if certain conditions are met, such as the resolution of a specific dispute or the correction of a specific error. These variations aim to address different scenarios and ensure that the acknowledgment accurately represents the debtor's agreement with the account statement, while accounting for any disputes or disagreements that may exist.

The Illinois Acknowledgment by Debtor of Correctness of Account Stated is a legal document used in the state of Illinois to verify and confirm the accuracy of a financial account. This document is often used in situations where there is a dispute or disagreement regarding an account between a creditor and a debtor. The purpose of this acknowledgment is to officially recognize that the debtor has received and reviewed the account statement from the creditor and acknowledges that it is correct and accurate. This serves as evidence that the debtor has been made aware of the account balance, charges, payments, and any other relevant information included in the statement. Keywords associated with this acknowledgment include Illinois, acknowledgment, debtor, correctness, account stated, accuracy, financial account, dispute, creditor, balance, charges, payments, and evidence. It is important to note that there may be different types of Illinois Acknowledgments by Debtor of Correctness of Account Stated, depending on the specific circumstances and requirements of the situation. Some possible variations may include: 1. General Acknowledgment: This type of acknowledgment is a general statement confirming the debtor's understanding and agreement with the correctness of the entire account stated. 2. Partial Acknowledgment: In cases where there is a dispute or disagreement over specific charges or items in the account, a partial acknowledgment may be used to confirm the correctness of the account except for those specific disputed items. 3. Conditional Acknowledgment: This type of acknowledgment may be used when the debtor agrees to acknowledge the correctness of the account stated only if certain conditions are met, such as the resolution of a specific dispute or the correction of a specific error. These variations aim to address different scenarios and ensure that the acknowledgment accurately represents the debtor's agreement with the account statement, while accounting for any disputes or disagreements that may exist.