Account
The Cyclopedic Law Dictionary · Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922
The Cyclopedic Law Dictionary
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.