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The document is an acknowledgment by the debtor confirming the accuracy of the account stated in Exhibit A, which details the financial relationship between the debtor and creditor. The debtor agrees that there are no counterclaims or offsets against the creditor.

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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.

What is the difference between claimed and stated?

If you state something, youre saying a fact. Something that isnt contested (or theres no need to consted it). Im a billionaire, he stated (I either believe him or I dont care whether he is or not an actual billionaire.) On the other hand, if you just claim something, then theres at least some doubt involved.

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 stating a claim?

A claim is the main argument of an essay. It is the most important part of an academic paper. A claim defines the papers goals, direction, and scope. It is supported by evidence. A claim must be argumentative.

What is an example of a claim?

Claims are statements about what is true or good or about what should be done or believed. Claims are potentially arguable. A liberal arts education prepares students best is a claim, while I didnt like the book is not.

What is an account stated claim?

Under California law, [a]n account stated is an agreement, based on prior transactions between the parties, that the items of an account are true and that the balance struck is due and owing.4 The three elements of the claim are 1) previous transactions between the parties establishing the relationship between debtor

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 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.

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