Washington Acknowledgment by Debtor of Correctness of Account Stated

• Category: Loans and Lending - Creditors
• State: Multi-State
• Control #: US-0163BG
• Format: Word; Rich Text

Description

An account stated is a statement between a creditor and a debtor based upon a series of prior transactions. Hence, an account stated arises when a particular amount is owed to the creditor by the debtor as of a certain date. An account stated refers to either an agreement itself or to the assent giving rise to the agreement. The agreement to pay the balance amount can be either express or implied. When the agreement to pay is in the nature of a computation, then it is called account stated. The Washington Acknowledgment by Debtor of Correctness of Account Stated is an important legal document used in financial and business transactions. It serves as evidence that the debtor acknowledges and confirms the accuracy of a specific account statement presented by a creditor. This acknowledgment is crucial in establishing the debtor's agreement with the stated account balance, preventing any disputes or discrepancies. Under Washington law, there are two types of Acknowledgments by Debtor of Correctness of Account Stated: 1. General Washington Acknowledgment by Debtor of Correctness of Account Stated: This type of acknowledgment is commonly used when the debtor agrees to the overall correctness of the entire account statement. By signing this document, the debtor confirms that the account balance, charges, and credits mentioned in the presented statement are accurate. 2. Specific Washington Acknowledgment by Debtor of Correctness of Account Stated: This type of acknowledgment is employed when the debtor only agrees to the correctness of specific items within the account statement, rather than the whole statement. It allows the debtor to dispute certain charges or credits while accepting the veracity of the rest of the account. Both types of acknowledgments safeguard the interests of both the creditor and the debtor by establishing a mutual understanding regarding the accuracy of the account statement. By signing the Washington Acknowledgment by Debtor of Correctness of Account Stated, the debtor provides legal affirmation that the presented statement is correct, reducing the possibility of future disputes. Keywords: Washington Acknowledgment by Debtor of Correctness of Account Stated, legal document, debtor, creditor, account statement, financial transactions, business transactions, accuracy, disputes, discrepancies, account balance, charges, credits, general acknowledgment, specific acknowledgment, mutual understanding, legal affirmation.

The Washington Acknowledgment by Debtor of Correctness of Account Stated is an important legal document used in financial and business transactions. It serves as evidence that the debtor acknowledges and confirms the accuracy of a specific account statement presented by a creditor. This acknowledgment is crucial in establishing the debtor's agreement with the stated account balance, preventing any disputes or discrepancies. Under Washington law, there are two types of Acknowledgments by Debtor of Correctness of Account Stated: 1. General Washington Acknowledgment by Debtor of Correctness of Account Stated: This type of acknowledgment is commonly used when the debtor agrees to the overall correctness of the entire account statement. By signing this document, the debtor confirms that the account balance, charges, and credits mentioned in the presented statement are accurate. 2. Specific Washington Acknowledgment by Debtor of Correctness of Account Stated: This type of acknowledgment is employed when the debtor only agrees to the correctness of specific items within the account statement, rather than the whole statement. It allows the debtor to dispute certain charges or credits while accepting the veracity of the rest of the account. Both types of acknowledgments safeguard the interests of both the creditor and the debtor by establishing a mutual understanding regarding the accuracy of the account statement. By signing the Washington Acknowledgment by Debtor of Correctness of Account Stated, the debtor provides legal affirmation that the presented statement is correct, reducing the possibility of future disputes. Keywords: Washington Acknowledgment by Debtor of Correctness of Account Stated, legal document, debtor, creditor, account statement, financial transactions, business transactions, accuracy, disputes, discrepancies, account balance, charges, credits, general acknowledgment, specific acknowledgment, mutual understanding, legal affirmation.