Stated account
Defined in 3 dictionaries — Case Law, Cyclopedic (1922), Ballentine's (1916)
Definitions from Case Law
From 11 U.S. 147 - Freeland v. Heron, Lenox & Co. · 1812Most cited · 17 citing opinions
When one merchant sends an account current to another residing in a different country, between whom there are mutual dealings, and he keeps it two years without making any objections, it shall be deemed a stated account, and his silence and acquiescence shall bind him, at least so far as to cast the onus probandi on him.
The Cyclopedic Law Dictionary
Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922
An acknowledgment of or agreement to an existing condition of liability of the parties, from which the law implies that all items therein are true and a promise to pay the balance thus acknowledged to be due. 246 IlL 241; 121 Cal. 590; 71 Cal. 60.
Ballentine's Law Dictionary
James A. Ballentine · 1916