Detroit Michigan Acknowledgment by Debtor of Correctness of Account Stated
Category:
State:
Multi-State
City:
Detroit
Control #:
US-0163BG
Format:
Word;
Rich Text
Instant download
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.
