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.
A Nebraska Complaint Against Guarantor of Open Account Credit Transactions — Breach of Oral or Implied Contracts is a legal action taken when a guarantor fails to fulfill their obligations in an open account credit transaction, either through a breach of an oral or implied contract. This complaint is typically filed in Nebraska courts to seek remedies for the damages caused by the guarantor's non-performance or breach. Keywords: 1. Nebraska Complaint: A legal document filed in Nebraska courts initiating a lawsuit against the guarantor. 2. Guarantor: An individual or entity who promises to fulfill the obligations of a debtor in case of default or non-performance. 3. Open Account: A credit agreement in which a creditor allows a debtor to make multiple purchases on credit. 4. Credit Transaction: The exchange of goods, services, or money on credit, enabling the debtor to pay at a later date. 5. Breach of Contract: The failure to fulfill the terms and conditions agreed upon in a legally binding contract. 6. Oral Contract: A verbal agreement made between parties, enforceable by law but without a written document. 7. Implied Contract: An agreement formed through actions or conduct, rather than explicit written or spoken words. 8. Damages: Monetary compensation sought by the complainant for the losses suffered due to the guarantor's breach of contract. 9. Non-performance: Failing to fulfill obligations or duties agreed upon in a contract. 10. Remedies: Legal actions or measures sought by the complainant to redress the harm caused by the guarantor's breach. Types of Nebraska Complaint Against Guarantor of Open Account Credit Transactions — Breach of Oral or Implied Contracts: 1. Breach of Oral Contract: When the guarantor fails to fulfill their obligations agreed upon verbally. 2. Breach of Implied Contract: When the guarantor fails to fulfill their obligations agreed upon implicitly through their actions or conduct. 3. Non-performance of Open Account Credit Transactions: When the guarantor does not fulfill their obligations in ongoing credit transactions as agreed upon. 4. Damages Claim: The complainant seeks monetary compensation for the losses incurred due to the guarantor's breach. In conclusion, a Nebraska Complaint Against Guarantor of Open Account Credit Transactions — Breach of Oral or Implied Contracts is a legal action filed when a guarantor fails to fulfill their obligations in an open account credit transaction, resulting in a breach of an oral or implied contract. Different variations of this complaint may arise based on the specific circumstances, such as breach of oral contract, breach of implied contract, non-performance of ongoing transactions, or seeking damages.
