Open Account or Account Stated
Open account and account stated are two types of causes of action for collection on an unpaid debt owed from one party to another. If a contract exists between a creditor and debtor, there was an agreed-upon amount claimed to be owed for certain goods delivered and then the goods were delivered and not paid for, there may be a cause of action for an open account. When two businesses have a prior transaction, they agree that a certain balance is due and a party owing money to the other agrees to pay the balance (and does not do so), there may be a cause of action for an account stated. These are typical claims that are brought forth by a supplier, vendor or other party who sends goods to one who ordered the goods and then that party does not pay for them.
At Brick Business Law, we pursue and defend causes of action for open account and account stated. If you have questions about these types of cases, please call for a free initial consultation.