West Virginia 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. West Virginia Acknowledgment by Debtor of Correctness of Account Stated is a legal document used in the state of West Virginia to verify the accuracy and legitimacy of a stated account by a debtor. This acknowledgment serves to officially confirm and acknowledge that the debtor has reviewed the provided account statements, and verifies that the information contained within is correct. In West Virginia, there are two types of Acknowledgment by Debtor of Correctness of Account Stated: 1. Voluntary Acknowledgment by Debtor of Correctness of Account Stated: This type of acknowledgment is initiated by the debtor themselves, voluntarily acknowledging the correctness of the account stated. It is typically used in cases where the debtor willingly accepts the stated account without dispute. 2. Court-Ordered Acknowledgment by Debtor of Correctness of Account Stated: This type of acknowledgment is ordered by a court and is usually required when a dispute arises between the debtor and the creditor regarding the accuracy of the stated account. The court orders the debtor to review and acknowledge the correctness of the account as part of the resolution process. The West Virginia Acknowledgment by Debtor of Correctness of Account Stated document includes the following key details: 1. Debtor Information: It requires the debtor's legal name, contact information, and any other identification details necessary for identification. 2. Creditor Information: The document also includes the creditor's name, contact information, and any other relevant details for clarity and identification purposes. 3. Account Statement Details: This section provides a detailed breakdown of the account statement, including specific dates, transactions, amounts, and any additional information that aids in the understanding of the account. 4. Debtor's Confirmation: In this section, the debtor officially acknowledges and confirms that they have carefully reviewed the provided account statement and affirm the correctness of the stated account. 5. Signature and Notary Public Section: The debtor must sign the document in the presence of a notary public, who will also sign and affix their official seal, attesting to the authenticity of the debtor's acknowledgment. It is crucial for debtors in West Virginia to thoroughly review the account statement before signing the Acknowledgment by Debtor of Correctness of Account Stated. By signing the document, debtors confirm that they have verified the account and agree to its accuracy. This document is essential for both creditors and debtors as it serves as an official record of the debtor's acceptance of the stated account's correctness.

West Virginia Acknowledgment by Debtor of Correctness of Account Stated is a legal document used in the state of West Virginia to verify the accuracy and legitimacy of a stated account by a debtor. This acknowledgment serves to officially confirm and acknowledge that the debtor has reviewed the provided account statements, and verifies that the information contained within is correct. In West Virginia, there are two types of Acknowledgment by Debtor of Correctness of Account Stated: 1. Voluntary Acknowledgment by Debtor of Correctness of Account Stated: This type of acknowledgment is initiated by the debtor themselves, voluntarily acknowledging the correctness of the account stated. It is typically used in cases where the debtor willingly accepts the stated account without dispute. 2. Court-Ordered Acknowledgment by Debtor of Correctness of Account Stated: This type of acknowledgment is ordered by a court and is usually required when a dispute arises between the debtor and the creditor regarding the accuracy of the stated account. The court orders the debtor to review and acknowledge the correctness of the account as part of the resolution process. The West Virginia Acknowledgment by Debtor of Correctness of Account Stated document includes the following key details: 1. Debtor Information: It requires the debtor's legal name, contact information, and any other identification details necessary for identification. 2. Creditor Information: The document also includes the creditor's name, contact information, and any other relevant details for clarity and identification purposes. 3. Account Statement Details: This section provides a detailed breakdown of the account statement, including specific dates, transactions, amounts, and any additional information that aids in the understanding of the account. 4. Debtor's Confirmation: In this section, the debtor officially acknowledges and confirms that they have carefully reviewed the provided account statement and affirm the correctness of the stated account. 5. Signature and Notary Public Section: The debtor must sign the document in the presence of a notary public, who will also sign and affix their official seal, attesting to the authenticity of the debtor's acknowledgment. It is crucial for debtors in West Virginia to thoroughly review the account statement before signing the Acknowledgment by Debtor of Correctness of Account Stated. By signing the document, debtors confirm that they have verified the account and agree to its accuracy. This document is essential for both creditors and debtors as it serves as an official record of the debtor's acceptance of the stated account's correctness.