Montana Complaint Against Guarantor of Open Account Credit Transactions - Breach of Oral or Implied Contracts

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Multi-State
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US-01248BG
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Word; 
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Description

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.

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FAQ

A written contract must be memorialized in writing, of course, and ?subscribed? by the party or parties obligated. ?Subscribed? basically means a signature or other writing showing agreement such as a reply email.

Statutes of limitations for each state (in number of years) StateWritten contractsOpen-ended accounts (including credit cards)Minnesota66Mississippi33Missouri105Montana8547 more rows ?

For contracts in written form, the statute of limitations is eight years. (Refer to §27-2-202(1).) For oral contracts, the statute of limitations is five years. (Refer to §27-2-202(2).)

Montana statute of limitations law When filing a personal injury claim in Montana, tort law states that you must bring the case within 3 years of your injury. That time limit accounts for most injuries, but there are some exceptions which actually have shorter time limits.

Verbal contracts are enforceable in Montana, but the party claiming there is a contract has to show: 1) the parties had the capacity (i.e. mental ability) to enter into a contract; 2) consent of these parties to the terms of the contract; 3) a lawful object; and 4) sufficient cause or consideration (i.e. money).

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Montana Complaint Against Guarantor of Open Account Credit Transactions - Breach of Oral or Implied Contracts