An open account is an account based on continuous dealing between the parties, which has not been closed, settled or stated, and which is kept open with the expectation of further transactions. An open account is created when the parties intend that the individual items of the account will not be considered independently, but as a connected series of transactions. In addition, the parties must intend that the account will be kept open and subject to a shifting balance as additional related entries of debits and credits are made, until either party decides to settle and close the account. This form is a complaint against a guarantor of such an account.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
The Massachusetts Complaint Against Guarantor of Open Account Credit Transactions — Breach of Oral or Implied Contracts is a legal action initiated by an individual or business seeking to hold a guarantor accountable for failing to fulfill their obligations in an open account credit transaction. This type of complaint is typically filed when there is a breach of an oral or implied contract between the debtor and the creditor. Keywords: Massachusetts, complaint, guarantor, open account credit transactions, breach, oral contracts, implied contracts. There are several variations of the Massachusetts Complaint Against Guarantor of Open Account Credit Transactions — Breach of Oral or Implied Contracts, each having its unique circumstances: 1. Breach of Oral Contract: In this type of complaint, the plaintiff asserts that there was an oral agreement between the debtor and the creditor, which the guarantor failed to honor. The plaintiff must provide evidence supporting the existence and terms of the oral contract. 2. Breach of Implied Contract: This complaint alleges that there was an implied contract between the debtor and the creditor, where both parties understood and intended to be bound by certain obligations. The plaintiff must demonstrate the existence of conduct or circumstances that give rise to the implied contract. 3. Default on Open Account Credit: In this scenario, the complaint focuses on the guarantor's failure to fulfill their obligations under an open account credit agreement. The plaintiff would need to show that there was a valid open account credit agreement, and the guarantor defaulted on their payments or breached other terms agreed upon. 4. Partnership Guarantor Liability: Here, the complaint targets a guarantor who was part of a partnership with the debtor. The plaintiff would argue that the guarantor is personally liable for the debtor's breach of an oral or implied contract due to their partnership agreement or status. 5. Detrimental Reliance: This complaint emphasizes that the plaintiff suffered harm or incurred financial losses due to the guarantor's breach of an oral or implied contract. The plaintiff must demonstrate that they reasonably relied on the guarantor's promise or conduct and suffered damages as a result. It's important to consult legal professionals or refer to official Massachusetts state resources for accurate and up-to-date information regarding the specific requirements and procedures associated with this type of complaint.
