Wisconsin Account Stated for Construction Work

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Multi-State
Control #:
US-0160BG
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Word; 
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Description

An account stated is a statement between a creditor and a debtor based upon a series of prior transactions. Hence, an account stated arises when a particular amount is owed to the creditor by the debtor as of a certain date. An account stated refers to either an agreement itself or to the assent giving rise to the agreement. The agreement to pay the balance amount can be either express or implied. When the agreement to pay is in the nature of a computation, then it is called account stated.
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FAQ

Section 411.201 - Statute of frauds (1) A lease contract is not enforceable by way of action or defense unless any of the following occurs: (a) The total payments to be made under the lease contract, excluding payments for options to renew or buy, are less than $1,000.

(1) Contracts; how let; exception for donated materials and labor. All public construction, the estimated cost of which exceeds $25,000, shall be let by contract to the lowest responsible bidder; all other public construction shall be let as the council may direct.

Section 895.07 (2) and (3) of the Wisconsin statutes requires you to deliver to the contractor a written notice of any construction conditions you allege are defective before you file your lawsuit, and you must provide your contractor or window or door supplier the opportunity to make an offer to repair or remedy the ...

State bid law allows cities and villages, by a three-fourths vote of all the members-elect of the council/board, to provide by ordinance that any class of work may be done directly by the city/village without bidding.

(a) The mayor shall be the chief executive officer. The mayor shall take care that city ordinances and state laws are observed and enforced and that all city officers and employees discharge their duties.

This section provides that persons involved in improvements to real property may not be sued more than ten [now seven] years after substantial completion of a project. The statute does not extend the time for bringing lawsuits that are otherwise time-barred by statutes of limitations.

The retainage shall be an amount equal to not more than 5 percent of the estimate until 50 percent of the work has been completed.

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Wisconsin Account Stated for Construction Work