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.
South Carolina Complaint Against Guarantor of Open Account Credit Transactions — Breach of Oral or Implied Contracts: In South Carolina, a complaint against a guarantor of open account credit transactions for breach of oral or implied contracts can occur when the guarantor fails to fulfill their obligation to make payments on behalf of the debtor as agreed upon in the contract. This type of complaint arises when a guarantor, who has agreed to be responsible for the debts of the debtor, fails to meet their duties, resulting in financial loss or damage to the creditor. Keywords: South Carolina, complaint, guarantor, open account credit transactions, breach, oral contracts, implied contracts, debtor, payments, contract, obligation, financial loss, damage, creditor. Different Types of South Carolina Complaint Against Guarantor of Open Account Credit Transactions — Breach of Oral or Implied Contracts: 1. Breach of Oral Contract: This type of complaint is filed when there is a breach of an oral agreement between the guarantor and creditor regarding the guarantor's responsibility to make payments on behalf of the debtor. 2. Breach of Implied Contract: This complaint is filed when there is a breach of an implied agreement between the guarantor and creditor, where the guarantor's responsibility to make payments is understood but not explicitly stated in a written contract. 3. Misrepresentation: This type of complaint may arise when the guarantor misrepresented their financial status or ability to make payments, leading the creditor to enter into the contract relying on false information. 4. Failure to Notify: If the guarantor fails to inform the creditor of their inability to fulfill their obligation to make payments on behalf of the debtor, a complaint can be filed for failure to notify, which can result in financial loss to the creditor. 5. Negligent Misrepresentation: This complaint is filed when the guarantor negligently provides false information or fails to disclose material facts, leading the creditor to suffer financial loss due to their reliance on the inaccurate information. 6. Fraudulent Misrepresentation: If the guarantor knowingly provides false information or conceals material facts, intentionally deceiving the creditor, a complaint for fraudulent misrepresentation can be filed. In South Carolina, creditors have the right to pursue legal action against guarantors who breach their obligations under oral or implied contracts, which can result in compensation for any financial losses incurred.
