South Dakota 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. South Dakota acknowledgment by debtor of correctness of account stated is a legal document used to confirm the accuracy and validity of an account statement provided by a creditor. This acknowledgment is typically used in situations where the debtor owes a debt to the creditor and has received an account statement detailing the outstanding balance and any related charges or credits. The purpose of this acknowledgment is to obtain the debtor's confirmation that the account statement accurately reflects the transactions and balances between them and the creditor. By signing this document, the debtor acknowledges that they have reviewed the account statement and agree that it is correct. This acknowledgment serves as an important tool for both the debtor and the creditor. For the creditor, it provides legal evidence that the debtor has accepted the accuracy of the account statement, making it easier to enforce collection efforts if necessary. It also helps prevent disputes regarding the validity of the account statement in the future. For the debtor, it ensures that they have an opportunity to review and dispute any errors or discrepancies in the account statement before being held responsible for the debt. There are no specific types of South Dakota acknowledgment by debtor of correctness of account stated in legal terms. However, it is important to note that this acknowledgment can be tailored to different types of debts or account statements, such as credit card debts, loans, mortgages, or any other types of financial obligations between the debtor and the creditor. It is a versatile document that can be customized according to the specific requirements and needs of the parties involved. In summary, South Dakota acknowledgment by debtor of correctness of account stated is a legal document that confirms the debtor's acceptance of the accuracy of an account statement provided by a creditor. It is an essential tool to establish mutual agreement regarding the debts owed and to prevent disputes in the future.

South Dakota acknowledgment by debtor of correctness of account stated is a legal document used to confirm the accuracy and validity of an account statement provided by a creditor. This acknowledgment is typically used in situations where the debtor owes a debt to the creditor and has received an account statement detailing the outstanding balance and any related charges or credits. The purpose of this acknowledgment is to obtain the debtor's confirmation that the account statement accurately reflects the transactions and balances between them and the creditor. By signing this document, the debtor acknowledges that they have reviewed the account statement and agree that it is correct. This acknowledgment serves as an important tool for both the debtor and the creditor. For the creditor, it provides legal evidence that the debtor has accepted the accuracy of the account statement, making it easier to enforce collection efforts if necessary. It also helps prevent disputes regarding the validity of the account statement in the future. For the debtor, it ensures that they have an opportunity to review and dispute any errors or discrepancies in the account statement before being held responsible for the debt. There are no specific types of South Dakota acknowledgment by debtor of correctness of account stated in legal terms. However, it is important to note that this acknowledgment can be tailored to different types of debts or account statements, such as credit card debts, loans, mortgages, or any other types of financial obligations between the debtor and the creditor. It is a versatile document that can be customized according to the specific requirements and needs of the parties involved. In summary, South Dakota acknowledgment by debtor of correctness of account stated is a legal document that confirms the debtor's acceptance of the accuracy of an account statement provided by a creditor. It is an essential tool to establish mutual agreement regarding the debts owed and to prevent disputes in the future.