An open account is an account based on continuous dealing between the parties, which has not been closed, settled or stated, and which is kept open with the expectation of further transactions. An open account is created when the parties intend that the individual items of the account will not be considered independently, but as a connected series of transactions. In addition, the parties must intend that the account will be kept open and subject to a shifting balance as additional related entries of debits and credits are made, until either party decides to settle and close the account. This form is a complaint against a guarantor of such an account.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Rhode Island Complaint Against Guarantor of Open Account Credit Transactions — Breach of Oral or Implied Contracts In Rhode Island, individuals or businesses who have faced default or breach of an oral or implied contract by a guarantor in open account credit transactions have the right to file a complaint seeking legal remedies. A complaint against a guarantor for breach of an oral or implied contract aims to hold the guarantor accountable for their failure to fulfill their financial obligations to the creditor. Open account credit transactions typically involve an arrangement where a creditor extends credit to a debtor on an ongoing basis, and the debtor is expected to make periodic payments for the goods or services received. In such transactions, a guarantor may assume responsibility for the debtor's obligations and guarantee the payment to the creditor. To file a complaint, the plaintiff (creditor) must provide a detailed account of the open account credit transaction, highlighting the existence of an oral or implied contract between the parties involved. The complaint should outline the terms and conditions agreed upon, including the guarantor's explicit or implicit promise to guarantee the debtor's obligations. Key elements to include in the complaint: 1. Parties Involved: Clearly identify the names and contact information of the plaintiff (creditor), the defendant (guarantor), and the debtor. 2. Statement of Account: Provide a comprehensive statement of account, detailing the goods or services provided, the dates of transactions, outstanding balances, and any payment history. 3. Oral or Implied Contract: Explain the existence of an oral or implied contract between the creditor and the debtor regarding the open account credit transactions. Describe the nature of the contract and the terms agreed upon, including the role of the guarantor, if any. 4. Breach of Contract: Clearly state how the guarantor has breached their obligations under the oral or implied contract. Specify the actions or lack thereof that constitute the breach and how it has caused financial harm to the creditor. 5. Damages: Quantify the damages suffered by the creditor as a result of the guarantor's breach of contract. Include any unpaid balances, accrued interest, collection fees, and other losses incurred. 6. Legal Grounds: Cite relevant Rhode Island statutes or case law that support the claim against the guarantor for breach of an oral or implied contract. Clearly explain how the facts of the case align with these legal provisions. 7. Relief Sought: Specify the desired legal remedies, such as the full payment of outstanding balances, reimbursement of collection fees and/or legal costs, and any other appropriate relief determined by the court. Different types of Rhode Island Complaints Against Guarantor of Open Account Credit Transactions — Breach of Oral or Implied Contracts can include variations based on the specific circumstances of the case. For example, the complaint may differ if the debtor has filed for bankruptcy, the guarantor's liability is disputed, or if there are allegations of fraud or misrepresentation. In conclusion, a Rhode Island Complaint Against Guarantor of Open Account Credit Transactions — Breach of Oral or Implied Contracts aims to seek legal recourse for creditors affected by the failure of a guarantor to uphold their obligations. By providing a detailed description of the transaction, highlighting the breach, and seeking appropriate relief, creditors can pursue their rights under Rhode Island law.
