Account Stated Statement For Visa Application In Contra Costa

Q: What is an account stated cause of action in California?

Under California case law, an 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. See Maggio, Inc. v. Neal, 196 Cal.

Category:

Construction - Contractors - Payments

State:

Multi-State

County:

Contra Costa

Control #:

US-0031BG

Format:

Instant download

Description

The Account Stated Statement for Visa Application in Contra Costa is a legal document that formalizes the financial transactions between an owner and contractor regarding construction work completed. This form outlines the payments made for labor and materials, specifying the allocation of costs related to multiple building projects, ensuring clarity in the financial dealings between the parties. It serves to confirm that certain payments have been made and to detail any outstanding amounts due to the contractor. Key features include designated sections for specifying parties involved, addresses, amounts due, and signatures of the relevant parties, ensuring that all transactions are documented properly. Filling out this form requires accurate details of costs and marked payments, emphasizing the importance of maintaining clear records. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants in the construction industry, providing a clear framework for resolving payment disputes and formalizing agreements. It is designed to support users in effectively managing construction accounts and ensuring compliance with local regulations.

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FAQ

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.

An Account Stated establishes an implied contract, whereas a breach of contract traditionally refers to an expressly written contract. Account Stated is used when no contract exists or when the plaintiff cannot prove the existence of the contract.

Under California case law, an 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.” See Maggio, Inc. v. Neal, 196 Cal.

Essentially, an account stated is a new contract under which the parties to prior transactions agree to a new balance due. 6. Thus, a claim for an account stated is based not on the original transactions between the parties, but on the new, agreed upon contractual balance.