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.
Utah Complaint Against Guarantor of Open Account Credit Transactions — Breach of Oral or Implied Contracts In the state of Utah, a complaint can be filed against a guarantor of open account credit transactions who has breached an oral or implied contract. Such complaints usually involve a guarantor who fails to fulfill their obligations to guarantee the repayment of a debt owed by the principal debtor, resulting in financial losses for the creditor. Keywords: Utah, complaint, guarantor, open account credit transactions, breach, oral contract, implied contract, obligations, guarantee, repayment, debt, principal debtor, financial losses, creditor. Types of Utah Complaint Against Guarantor of Open Account Credit Transactions — Breach of Oral or Implied Contracts: 1. Breach of Oral Contract: This type of complaint involves a guarantor who has entered into an oral contract with a creditor, agreeing to guarantee the repayment of a debt owed by the principal debtor. The complaint alleges that the guarantor has failed to fulfill their obligations under the oral contract, leading to financial losses for the creditor. 2. Breach of Implied Contract: In this type of complaint, the guarantor's obligation to guarantee the repayment of a debt is implied rather than explicitly stated in a written or oral contract. The complaint asserts that the guarantor has breached this implied contract by failing to fulfill their duties, resulting in financial losses for the creditor. 3. Failure to Exercise Reasonable Care: This type of complaint alleges that the guarantor, despite having the duty to exercise reasonable care in guaranteeing the repayment of the debt, has acted negligently or recklessly. The complaint argues that this failure to exercise reasonable care has caused financial harm to the creditor. 4. Fraudulent Misrepresentation: In certain cases, a complaint may accuse the guarantor of engaging in fraudulent misrepresentation. This occurs when the guarantor knowingly makes false statements or conceals facts, leading the creditor to rely on these misrepresentations and ultimately suffer financial losses. 5. Unauthorized Guarantor: This type of complaint focuses on situations where the guarantor did not have the authority or legal right to act as a guarantor for the open account credit transactions. The complaint alleges that the guarantor's unauthorized actions have resulted in a breach of the oral or implied contract, causing financial harm to the creditor. Overall, a Utah complaint against a guarantor of open account credit transactions for breach of oral or implied contracts involves asserting that the guarantor has failed to meet their obligations, whether they were explicitly stated or implied, resulting in financial losses for the creditor.
