Account

An account is something which may be adjusted and liquidated by an arithmetical computation.

+ 3 more definitions — see all 11 over time

A detailed statement of mutual demands in the nature of debt and credit between the parties, arising out of contract or some fiduciary relation. 45 Mo. 573. A written statement of pecuniary transactions. Abbott. It is to be distinguished from "balance," which is but the conclusion or result of the account. 45 Mo. 574. Stated Account. One which has been approved by the parties, and the balance shown by it agreed to either (1) expressly, or (2) impliedly, as by retaining an account rendered without objection. Open Account. One which has not been closed or stated. Current Account. One kept open In expectation of further dealings. Book Accounts. Those evidenced by entries in books of account. Account Rendered. An account pre sented by the creditor to the debtor.

A detailed statement of the mutual demands in the nature of debit and credit between parties, arising out of contracts or some fiduciary relation; Whit well v. Willard, 1 Mete (Mass.) 216; Blakeley v. Biscoe, 1 Ilempst. 114, Fed. Cas. No. 1S,239; Portsmouth v. Donaldson, 32 Pa. 202, 72 Am. Dec. 782; Turgeon v. Cote, 8S Me. 108, 33 Atl. 787. A statement of the receipts and payments of an executor, administrator, or other trustee of the estate confided to him. An open account is one in which some term of the contract is not settled by the parties, whether the account consists of one item or many; Sheppard v. Wilkins, 1 Ala. 02: Goodwin v. Hale. 6 Ala. 438; Dunn v. Fleming's Estate, 73 Wis. 545, 11 X. W. TUT. A form of action called also account render, in which such a statement, and the recovery of the balance which thereby ap- In Practice. In Equity. Ji a concurrent with courts of law is taken over matters of account; Posl v. Kimberly.:•. (N. Y.) ITU: Bruce v. Burdet, 1 J. J. h Nelson v. Alii 360; Mc Laren v. Steapp, l Ga grounds: mutual accounts; 18 B dealings so complicated that they cannot be adjusted in a court of law; 1 Sen. & 1 2 II. L. Cas. 28; Hickman v. (Va.) •;-, Whltwell v. Willard, I 21*;: Cullum v. Bloodgood, 15 Ala.::!; Printup v. Mitchell. 17 Cm. 558, 63 Am. De Kaston v. Paxton, 46 Or. 308, 80 11 1 Am. St. Rep. 871; Mc Mullen I.: v. Strother, 136 Fed. 295, 69 C. « '. A Chase v. Phosphate Co., 32 App. Div. I X. Y. Supp. 220; the existence of a fidi relation between the parties; 1 Sim. <'h. n. s. 573; Massachusetts General Hospital v. Assur. Co., 4 Cray (Mass.i L'127; Kilbourn v. Sunderland, 130 D. 8. 505, 9 Sup. Ct. 594, 32 L. Ed. 1005. A bill for an account must show by specific allegations one- of these grounds lity; Walker v. Brooks. 125 Mass. 241; and it must appear in the stating part of the bill; a prayer for an account is not sufficient; Bnshnell v. Avery, 121 Mass. lis. In addition to these peculiar grounds of jurisdiction, equity will grant a discovery in cases of account on the general principles regulating di coveries; Knotts v. Tarver, 8 Ala. 743; Wilson v. Mallett, 1 Sandf. (X. Y.i 112; Waller v. Cheever. 3.1 X. IT. 339; Sheridan v. Ferry Co.. 214 Pa. 117. 63 Atl. 418; Sanborn v. Kittredge, 20 Yt. 632, 50 Am. Dec. 58; and will afterwards proceed to grant I full relief in many cases; 6 Yes. 136; Rathbone v. Warren, 10 Johns. iX". Y.) r,s7; Fowle v. Lawrason, 5 ret. (U. SO 495, S L. Ed. 204. But "to say that whenever there is a right of discovery there must be an account allowed is rather reversing the thing. Discovery, on the contrary, is incident to the order to account. The two things are sepal 2 II. L. Cas. 28. The remedy of part owners of a ship for adjustments of accounts between themselves is in equity; Milium v. Guyther, 8 Oill (Md.) 92, 50 Am. Dec. 681: State v. Watts. 7 La. 440. 26 Am. Dec. 507; and so it is when business is carried on upon joint account, whether as partners or not; Clarke v. Pierce, 52 Mich. 157, 17 X. W. 7S0; Coward V. Clanton, 122 Cal. 451, 55 Tac. 1-17. Equitable jurisdiction over accounts applies to the appropriation of payme* Story, Hq.Jur. (8th Bd.) §459; agency; Henderson v. Mc Clure, 2 Mc Cord, Eq. I 8. 0.) 469; Including factors, bailiffs, consignees, receivers, and stewards, where there are mutual or complicated accounts; 9 Beav. ■ H. L. Cas. 28 I where, however, it was held that the relation of banker and customer is not such fiduciary relation as to Story, Eq. Jur. § 4G5; 2 M. & K. GG4; Scott v. Gamble, 9 N. J. Eq. 218; administrators and executors; Adams' Heirs v. Adams, 22 Vt. 50; Stong v. Wilkson, 14 Mo. 116; Fleming v. Mc Kesson. 56 N. C. 316; Colbert v. Daniel, 32 Ala. 314; (luardians, etc.; Moore v. Hood, 9 Rich. Eq. (S. C."> 311, 70 Am. Dec. 210; Johnson v. Miller, 33 Miss. 553; tenants in cowman, joint tenants of real estate or chattels; 4 Ves. 752; 1 Yes. & B. 114; partners; Perkins v. Perkins' Kx'r, 3 Gratt. (Va.) 364; Carter v. Holbrook, 3 Cush. (Mass.) Washburn v. Washburn, 23 Vt. 576; Hough v. Chaffin, 4 Sneed (Tenn.) 238; Long v. Majestre, 1 Johns. Ch. (N. Y.) 305; directors of companies, and similar officers; 1 Y. & C. 326; apportionment of apprentice fees; 2 Bro. C. C. 78; or rents; 2 P. Wms. 176, 501; see 1 Story, Eq. Jur. § 4S0; contribution to relieve real estate; 3 Co. 12; 2 Bos. & P. 270; Cheesebrough v. Millard, 1 Johns. Ch. (N. Y.) 409, 7 Am. Dec. 494; Stevens v. Cooper, 1 Johns. Ch. (N. Y.) 425, 7 Am. Dec. 499; Taylor v. Porter, 7 Mass. 355; general average; 4 Kay & J. 367; Sturgess v. Cary, 2 Curt. 59, Fed. Cas. No. 13,- 572; between sureties; 1 Story, Eq. Jur. § 492; liens; Skeel v. Spraker, 8 Paige Ch. (N. Y.) 182; Patty v. Pease, 8 Paige Ch. (N. Y.) 277, 35 Am. Dec. 683; rents and profits between landlord and tenant; 1 Sch. & L. 305; Livingston v. Livingston, 4 Johns. Ch. (N. Y.) 287, 8 Am. Dec. 562; in case of torts; Bacon, Abr. Accompt, B; a levy; 1 Ves. Sen. 250; 1 Eq. Cas. Abr. 285; and in other cases; Mc Clandish v. Edloe, 3 Gratt. (Va.) 330; ivaste; 1 P. Wms. 407; 6 Ves. 88; tithes and moduses; Com. Dig. Chancery (3 C), Distress (M. 13). But equity will not entertain a suit for a * naked account of profits and damages against an infringer of a patent; Waterman v. Mackenzie, 138 U. S. 252. 11 Sup. Ct. 334, 34 L. Ed. 923; Root v. Railway Co., 105 U. S. 189, 26 L. Ed. 975; nor will an account for infringing a trademark be ordered where the infringer acted in good faith, or the profits were small; Saxlehner v. Siegel-Cooper Co., 179 U. S. 42, 21 Sup. Ct. 16, 45 L. Ed. 77. Neither will an account be ordered merely to establish by testimony the allegations of the bill; Tilden v. Maslin, 5 W. Va. 377; nor when the accounts are all on one side and no discovery is needed; Graham v. Cummings, 208 Pa. 516, 57 Atl. 943. On a bill for an account the right of the defendant to affirmative relief is as broad as that of complainant; Wilcoxon v. Wilcoxon, 111 111. App. 90; even if the answer contains no demand for it; Consolidated Fruit Jar Co. v. Wisner, 110 App. Div. 99, 97 N. Y. Supp. 52, affirmed 188 IN. Y. 624, 81 N. E. 1162. A decree for an accounting under a decree persons not then In being, as after-born children, and the latter may be bound by it; as in the case of trustees of land subject to a life tenancy; 2 Vera. 526; Harrison v. Wallton's Ex'r, 95 Va. 721, 30 S. E. 372, 41

A detailed statement of the mutual demands In the nature of debt and credit between parties, arising out of contracts or some fiduciary relation. Whitwell v. Wlllard, 1 Mete. (Mass.) 216; Blakeley v. Biscoe, 1 Hempst. 114, Fed. Cas. No. 18,239 ; Portsmouth v. Donaldson. 32 Pa. 202, 72 Am. Dec. 782. A statement in writing, of debts and credite, or of receipts and payments; a list of items of debts and credits, with their respective dates. Rensselaer Glass Factory v. Reid, 5 Cow. (N. Y.) 593. The word is sometimes used to denote the balance, or the right of action for the balance, appearing due upon a statement of dealings; as where one speaks of an assignment of accounts ; but there is a broad distinction between an account aiM the mere balance of an account, resembling the distinction in logic between the premises of an argument and the conclusions drawn therefrom. A balance is but the conclusion or result of the debit and credit sides of an account. It implies mutual dealings, and the existence of debt and credit, without which there could be no balance. McWilliams v. Allan, 45 Mo. 574.

— Account closed. An account to which no further additions can be made on either side, but which remains still open for adjustment and set-off, which distinguishes it from an account stated. Bass v. Bass, 8 Pick. (Mass.) 187; Volkening v. De Graaf, 81 N. Y. 268; Mandeville v. Wilson, 5 Cranch, 15, 3 L. Ed. 23.

— Account current. An open or running cr unsettled account between two parties.

— Account duties. Duties payable by the English customs and inland revenue act, 1881, (44 Vict. c. 12, § 38.) on a donatio mortis causa, or on any girt, the donor of which dies within three months aifter making it, or on joint property voluntarily so created, and taken by survivorship, or on property taken under a voluntary settlement in which the settlor had a life-interest.

— Account rendered. An account made out by the creditor, and presented to the debtor for his examination and acceptance. When accepted, it becomes an account stated. Wiggins v. Burkham, 10 Wall. 129, 19 L. Eld. 8S4; Stebbins v. Niles, 25 Miss. 267

— Account stated. The settlement of an account between the parties, with a balance struck in favor of one of them ; an account rendered by the creditor, and by the debtor assented to as correct, either expressly, or by implication of law from the fnilure to object. Ivy Coal Co. v. Long, 139 Ala. 535, 36 South 722; ac-arino v. Pallotti, 49 Conn. 36; McLellan v. Crofton, 6 Me. 307; James v. Fellowes. 20 La. Ann. 116; Lockwood v. Thorne. 18 N. Y. 285; Holmes v. Page. 19 Or. 232. 23 Pac. 961; Philips v. Belden, 2 Edw. Ch (N. Y.) 1; Ware v. Manning, 86 Ala. 238, 5 South 682; Morse v. Minton, 101 Iowa, 603, 70 N. W. 691. This was also a common count in a declaration upon a contract under which the plaintiff might prove an absolute acknowledgment by the defendant of a liquidated demand of a fixed amount, which implies a promise to pay on request. It might be joined with any other count for a money demand. The acknowledgment or admission must have been made to the plaintiff or his agent. Wharton.

— Mutual accounts. Accounts comprising mutual credits between the parties ; or an existing credit on one side which constitutes a ground for credit on the other, or where there is an understanding that mutual debts shall be a satisfaction or set-off pro tanto between the parties. McNeil v. Garland 27 Ark. 343.

— Open account. An account which has not been finally settled or closed, but is still running or open to future adjustment or liquidation. Open account, in legal as well as in ordinary language, means an indebtedness subject to future adjustment, and which may be reduced or modified by proof. Nisbet v. Lawson. 1 Ga. 275 ; Gayle v. Johnston, 72 Ain. 254, 47 Am. Ren. 405; McCamant v. Batsell, 59 Tex. 368; Purvis v. Kroner, 18 Or. 414, 23 Pac. 26O.

— Public accounts. The accounts kept by officers of the nation, state, or kingdom, 01 the receipt and expenditure of the revenues of the government.

In practice. A writ or action at common law, (sometimes called "account render,") which lies against a person who, by reason of his office or business as bailiff, receiver, or guardian, ought to render an account to another, but refuses to do so. Fitzh. Nat. Brev. 116; Co. Litt. 172. Account is a writ or action brought against a person who, by means of his office as a guardian, or for some business he has undertaken as an agent, or some money he has received for another, ought to render an account to him, and refuses to do it; and he that calls him to an account shall recover of him not only what shall be found due, but also damages for the wrong done him. 1 Amer. & Eng. Enc. Law, 128.

An obsolete render an account and current: an open account. anced, which is considered Aocouple,/;-. Married. I. To Acceptavit: lie accepted.; the verbal release of a debt, by has not been paid. The drawee or other persons accepting mode of acquiring property by natural what one already possesses; as land, by houses, when built on one's own land; or 1. That which is incident or subordinate its principal. 2. v. Abet. Accessosequitur suum principale (the acbut follows its principal): the incident the principal, but not the principal by Accessoriuta sequitur naturam rei follows the nature of that to which accessary is reserved for the second Action on the case. contract between the owner of property when the latter is to sell the goods the profits. Notes or bills made, accepted, or inanother without consideration. concerned in a crime, whether principal between two persons in settlement of a has against the other. When performed, satisfaction, and is a bar to all actions common-law action to compel a person to enforce settlement thereof. Account Accoimt stated: an account balaccepted after a reasonable time. one's self of offence oath

Accompt, [L. Lat. computus, from computare, to account.] In practice. A writ, or action at common law, (sometimes called account render,) which lies against a person who by reason of his office, or busmess, as bailiff, receiver, or guardian, ought to render an account to another, but refuses to do so. E. ^. B.116. P. Q. Co. l Att. 172. The writ in this action (which is termed in the old books, breve de compute,) commands the defendant to render a reasonable account (rationabile computum,) to the plaintiff, or show the court good cause to the contrary. Meg. Grig. 135. E. A^. B, 116, 117. If the plaintiff succeeds, there are two judgments; the first is that the defendant do account. (fttod compu Ui,) before auditors appointed by the courts and, when such account is finished, then the second judgment is that ^e do pay the plaintiff so much as he is foohd in arrear. 3 BL Com, 162. The action of account was formerly the common remedy in mercantile transactions, and in almost bSI cases where there were dealings, and an unliquidated demand. 8 Eeevei ffisL Eng, Law, 77. In modem practice it has fallen into great disuse, in consequence of the substitution of the action of assumpsit, and the frequent resort to a conrt of equity. 3 BL Com, 163. 1 Tidd's Pt. 1, 2. 1 Archb. N. Prius, 196, 197. It seems, however, to have always been r^[arded with favor by the English judges, and in the case of Godfrey v. i Saanders, in the C. B., where an action of this bnd was brought, Lord C. J. Wilmot eipressed his satisfaclion at seeing it revived 3 Wils. 94, 11*7. Very recently it has heen revived in England to a considerable extent, in consequence of a decision of the court of exchequer, in relation to the exception of merchants' accounts m the statute of limitations. 8 Mees. dt W. 769. Smith on Contracts^ 301, 302, 321, and notes. It is retained in the practice of some of the United States, but its form has been modified, and, in general, it is rarely resorted to: in some of the states it has been expressly abolished. 4 Kenfs Com, 359, note. 1 Story's Eq. Jur. § 442, and note. Rev, Stat, of N. Jersey, 46. Bev. Stat, of Vermont, 219, c. 36. Bev. Stat, of Mass, c. 118, §43. See United States Digest, Account render.

remedies. This is the name of a writ or action more properly called account render. It lies against a bailiff or receiver, who by reason of his employment or business is to render an account to another, and refuses or neglects to do it. It is also the proper remedy by one partner against another. - In this action if the plaintiff succeeds, there are two judgments the first that the defendant do account, quod computet, before anditors appointed by the court; the second that the plaintiff recover the amount to which he is found to be entitled. In those states where they have courts of chancery, this action is nearly superseded, by the better remedy which is given by facts from the defendant under his oath, instead of relying merely on the evidence he may be able to produce. When an account has once been stated, the plaintiff may recover in action of assumpsit. 3 Bl. Com. 162; 8 Com. Dig. 7; 1 Com. Dig. 180; 2 Ib. 4683; 1 Vin. Ab. 135; 1 Bac. Ab. 31; Doct. Pl. 26; Yelv. 2U2; 1 Supp. to Ves. Jr. 117; 2 Ib. 48, 136.