Oklahoma Acknowledgment by Debtor of Correctness of Account Stated is a legal document used in Oklahoma to confirm the accuracy and legitimacy of a stated account. This written acknowledgment serves as evidence that the debtor has reviewed the account statement and agrees that the details provided are correct. In the state of Oklahoma, there are typically two main types of Oklahoma Acknowledgment by Debtor of Correctness of Account Stated: 1. General Oklahoma Acknowledgment by Debtor of Correctness of Account Stated: This type of acknowledgment is commonly used in various financial transactions, including loans, credit cards, and other forms of indebtedness. It allows the debtor to express their agreement with the account statement's accuracy before the creditor and any involved third parties. 2. Specific Oklahoma Acknowledgment by Debtor of Correctness of Account Stated: This acknowledgment is more specific and tailored to unique situations where a debtor might need to confirm the accuracy of an account statement for specific purposes such as tax filings, audits, or legal disputes. It provides a comprehensive confirmation that the debtor accepts the accuracy of the stated account in the given context. It is crucial to note that an Oklahoma Acknowledgment by Debtor of Correctness of Account Stated must comply with the legal requirements of the state. These requirements include the presence of essential elements such as the debtor's full name, the date of acknowledgment, the account details, and a clear statement declaring the debtor's agreement to the correctness of the account. To ensure validity, it is recommended that an Oklahoma Acknowledgment by Debtor of Correctness of Account Stated is executed in the presence of a notary public or any authorized official to authenticate the debtor's signature. The notary public will confirm the debtor's identity and witness the acknowledgment, adding a layer of credibility to the document. In conclusion, an Oklahoma Acknowledgment by Debtor of Correctness of Account Stated is a vital legal document used in various financial transactions and legal scenarios in the state of Oklahoma. It allows debtors to confirm the accuracy of an account statement, providing an essential record of their agreement for future reference. Adhering to the state's legal requirements and obtaining notarization ensures the document's authenticity and strengthens its evidentiary value.
Oklahoma Acknowledgment by Debtor of Correctness of Account Stated
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?An account stated has been defined as an agreement between parties who have had previous transactions that the account representing those transactions is true and that the balance stated is correct, together with a promise, express or implied, for the payment of such balance." "An account stated is merely a form of ...
To establish a cause of action for an account stated in New York, the plaintiff must plead that: 1) an account was presented; 2) the account was accepted as correct; and 3) the debtor promised to pay the amount stated. Whether there is an implied account stated?by silence or otherwise?is a question of fact.
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.
Example 1: John and Jane have a business relationship where John provides consulting services to Jane. John sends Jane an account stated every month, summarizing the amount that Jane owes him. If Jane does not object to the charges within a reasonable time, she implicitly agrees to pay the debt.
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 debtor's failure to object to the stated amount within a reasonable time.
