Oregon Account Stated for Construction Work

• Category: Construction - Contractors - Payments
• State: Multi-State
• Control #: US-0031BG
• Format: Word; Rich Text

Description

An account stated is a statement between a creditor (the person to whom money is owed) and a debtor (the person who owes) based upon a series of prior transactions that a particular amount is owed to the creditor as of a certain date. Oregon Account Stated for Construction Work is a legal concept that comes into play when there is a payment dispute or disagreement between parties involved in a construction project in the state of Oregon. It is a specific type of claim that can be pursued by contractors, subcontractors, suppliers, or any other party involved in the construction process. The concept of Account Stated refers to an agreement or acknowledgment between the parties involved regarding the amount owed for the work performed or the goods supplied. If all parties have agreed on the amount due, either explicitly or through their conduct, an account stated is said to exist. In the context of construction work, an Oregon Account Stated arises when the contractor invoices the project owner or general contractor for completed work or provided materials. If the invoice is accepted or payments are made without objection, a mutual understanding is created, forming the Account Stated. There are no specific different types of Oregon Account Stated for Construction Work. However, it is important to note that the claim can be made by different parties involved in the construction project, and the role of each party may differ. For instance, a subcontractor may assert an Account Stated claim against the general contractor or project owner, while a supplier may assert the claim against the subcontractor. Keywords related to Oregon Account Stated for Construction Work include payment dispute, construction project, contractor, subcontractor, supplier, payment disagreement, invoice, amount due, goods supplied, project owner, general contractor, claim, and mutual understanding. Overall, Oregon Account Stated for Construction Work is a legal concept that helps resolve payment disputes in construction projects by recognizing a mutual agreement on the amount due. It provides a framework for securing rightful payment, protecting the interests of contractors, subcontractors, and suppliers involved in the construction industry in Oregon.

Oregon Account Stated for Construction Work is a legal concept that comes into play when there is a payment dispute or disagreement between parties involved in a construction project in the state of Oregon. It is a specific type of claim that can be pursued by contractors, subcontractors, suppliers, or any other party involved in the construction process. The concept of Account Stated refers to an agreement or acknowledgment between the parties involved regarding the amount owed for the work performed or the goods supplied. If all parties have agreed on the amount due, either explicitly or through their conduct, an account stated is said to exist. In the context of construction work, an Oregon Account Stated arises when the contractor invoices the project owner or general contractor for completed work or provided materials. If the invoice is accepted or payments are made without objection, a mutual understanding is created, forming the Account Stated. There are no specific different types of Oregon Account Stated for Construction Work. However, it is important to note that the claim can be made by different parties involved in the construction project, and the role of each party may differ. For instance, a subcontractor may assert an Account Stated claim against the general contractor or project owner, while a supplier may assert the claim against the subcontractor. Keywords related to Oregon Account Stated for Construction Work include payment dispute, construction project, contractor, subcontractor, supplier, payment disagreement, invoice, amount due, goods supplied, project owner, general contractor, claim, and mutual understanding. Overall, Oregon Account Stated for Construction Work is a legal concept that helps resolve payment disputes in construction projects by recognizing a mutual agreement on the amount due. It provides a framework for securing rightful payment, protecting the interests of contractors, subcontractors, and suppliers involved in the construction industry in Oregon.