Account stated 2025

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The document is an account stated agreement between a property owner and a contractor regarding construction work performed on two buildings. It outlines the completion of construction, the allocation of payments made by the owner, and specifies that all charges for one building are settled while detailing the outstanding amount due for the second building.

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What is a stated claim?

There are three elements of an account stated claim: (1) the account was presented, (2) by mutual agreement, it was accepted as correct, and (3) the debtor promised to pay the amount so stated. The second and third elements may be shown by the debtors failure to object to the stated amount within a reasonable time.

What is stated value in accounting?

A stated value is an amount assigned to a corporations stock for internal accounting purposes when the stock has no par value. Like par valuewhich is the face value of a stock stated in the corporate charterstated value is nominal, typically between $0.01 and $1.00. The stated value has no relation to market price.

What is the meaning of stated in accounting?

An account stated is a document summarizing the amount of money a debtor owes a creditor . Account stated is also a cause of action in many states that allows a creditor to sue for payment.

What is the meaning of stated amount?

A stated amount is the value that you place on your vehicle and provide to your insurer. Its the price youd ask a buyer to pay if you sold your car today. The stated amount allows you to customize your commercial auto insurance to reflect your vehicles worth.

What is an example of an account stated?

Often the account stated is a bill, invoice or a summary of invoices, signed by the customer or sent to the customer who pays part or all of it without protest.

Is stated value the same as par?

In finance and accounting, par value means stated value or face value of a financial instrument.

Is a credit card an account stated?

Although California courts have not yet weighed in on the issue, federal courts applying California law have concluded that monthly credit card statements may form the basis for an account stated, notwithstanding the existence of a written cardholder agreement. (Lauron, supra, 8 Cal. App. 5th at pp.

What is stated capital in accounting?

Stated capital is the total amount of money that a company receives from selling its stocks. It is also known as legal capital because it is the minimum amount of money that a company is required to have by law. This money is used to protect the companys creditors in case the company goes bankrupt.

Account stated 2025

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