Page:Black's Law Dictionary (Second Edition).djvu/25

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ACCOUNT 17

tracts or some fiduciary relation. Whitwell V. Willard, 1 Metc. (Mass) 216; Blakeicy V. Blscoe, 1 Hempst. 114, Fed. Cas. No. 1S,239; Portsmouth v. Donaldson, 32 Pa. 202. 72 Am. Dec. 782.

A statement in writing, of debts and cred- its, or of ieceipts and payments; a list of Items of dehts and credits, with their respective dates. Rensselaer Glass Factory ' V. Reid. 5 Cow. (N. Y.) 593.

The word is sometimes used to denote the balance, or the right of action for the balance. appearing due upon a statement of dealings: us where one specks of an assignment of accounts; but there is a broad distinction between an account and the mere balance of an amount, resembling the distinction in logic beta ecu, the premises of an argument and the cnnclusions drawn therefrom. A balance is but the conclusion or result of the debit and credit sides of an account. It implies mutual deal- mes, and the existence of debt and credit, with- mor which tl|l‘l'e could he no balance. Mc“7iliiunia v. Allan. 45 '\{o. 5 4. —Account closed. An account to which no further arldilinns can be made on either side, but which l'(‘ln.'iius still open for adjustment and set off, which distinguishes it from an ac count stated. Bass v. Bass. 8 Pick. (Mass.) 137. Volkening v. De Graaf. 81 v. Y. 263: ltltindeviile v. Wilson, 5 Crnncb. 15. 3 L. Ed. '.’3.—.AccannI: current. An open or running or unsettled account between two parties- Account duties. Duties payable by the English customs and lnlond revenue act. 1881. I44 \'ict. c. 12, 38.) on a donatia martin cause, or on any gi t, the donor of which dies within three months after mnkillg‘ it, or on joint prop- erty voluntarily so created, and taken by sur- vivorshlp, or on property taken under a Voluntoiy settlement in which the settlor had a ilfe- lntercst.—Aecnunt rendered. An account made out: by the ‘creditor, and presented to the debtor for his examination and acceptance \\hen accepted, it becomes an account stated. Wiggzins v. Bnrlchiuii, 10 Wall. 129. 19 L. Ed. SS4: Stebbins v. Niles. 25 Miss. 267.—.Account stated. The settlement of an account between the parties, with a balance struck in favor of one of them: an account rendered by the creditor, and by the debtor assented to its correct either evpressly, or by implication of law from the failure to object. Ivy (‘oal Co. v. Long, 139 Ala. ‘:35, 36 South. 722: Zacariuo v. Pullolti. 49 Conn. 36: Xlicltellan V. Crafton, :5 Me. 307: James v. Fcllowes. 20

. Ann. 116: Lockwood v. Thorne. 18 N. Y. Q‘ Holmes v. Page. 19 Or. 232. ..- Pun. 961: Philips v. Belden. 2 Edw. Ch. (N. Y.) 1; “are v. Manning. 86 Ala. '38 L ‘ . Morse \'. Minton, 101 Iowa. 603. 70 N. W. 991. This was also a common. count in a declaration upon a contract under which the plaintillf might

rme an absolute acknowledgment by the de-

endant of a iiquiilatcd detnnnd of a fixed amount, which implies a promise to pay on re- ql1m4L It might be joined with any other count for a money demand. The arknowledgutent or admission must have been made to the plaintiff or his agent Whnrton.—Mutual accounts. Accounts compri u,-z mutual credits between the pirties; or an. existing credit on one side which constitutes a ground for credit on the other, or where there is an understanding that mutual tlt-bts shall be a satisfaction or set-olf pro trmto between the partie.. IcNeil v. Garland. 27 Ark. 343 —Open account. An account which has not been finally settled or closed, but is still running or open to future adjustment or liquidation. Open account, in legal as well as in ordinary lanminue. means an indebtedness subject to future adjustment, and which may be reduced or modified by proof. Nisbet v. Law-

Bl.Law Dict.(2d Ed.)-2

9° U1 § 3

{{anchor+|.|ACCOUNTANT GENERAL son. 1 Ga. 275; Gayle v. Johnston, 72 Ala. 254 47 Am. Iiep. 405; McC:imant v. Batsell, 5?) Tex. 31- : Purvis v. Kroner, 18 Or. 41-i, 23 Pac_ 26D.—Pub1ie nccountl. The accounts kept b officers of the nation. state, or king- dom, o the receipt and expenditure of the rere- nues of the government

{{anchor+|.|ACCOUNT, or ACLOUNT BENDEB. In practice. Account,” sometimes called "account render." was a form of action at common law against a person who by reason of some fiduciary relation (as gl1{ll(iii.\l.\, hi1l.lJJI. receiver. etc.) was bound to render an account to another, but refused to do so. Fitzh. Nat. Brev 116; C0. Litt. 172; Griffith v. Willing, 3 Bin. {Pa.) 317; Travers v. Dyer. % Fed. Cas. 142; Stevens v. Ccburn, 71 Vt. 261. 44 Atl. 354; Portsmouth v. Donaldson, 32 Pa. 202. 72 Am. Dec. 782.

In I731-gland, this action early feli into disuse: and as it is one o the most diliitory and expensive actions known to the law, and the partles are held to the ancient rules of pleading, and no discovery can be obtained, it never W'1S adopted to any great extent in the United States. But in some states this action was employed. chieily because there were no chuucery courts in which a bill for an accounting would lie. The action is peculiar in the fact that No judgments are rendered, a. preliminary judgment that the defendant do account with the plaintiff (quad campuict) and a finai jlulizment (quad rccupcret) after the accounting for the balance found due. Field v. Brown, 1-‘if: Ind. 293, 45 N. E. 464: Traveis v. Dyer, 24 Fed. Cos 142.

{{anchor+|.|ACCOUNT-BOOK. A book kept ‘by a merchant, trader, meclmnlc, or other person, in which are entered from time to time the transactions of his trade or business. Such books, when regularly kept, may be admitted in evidence. Greenl. Ev. §§ 115-118.

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{{anchor+|.|ACCOUNTABLE. Subject to pay; responsible: liable. Where one iuilmsed a note "A. C, accountable.“ it was held that. under this form of indorscment. he had waived demand and notice. Furber v. Caverly, 42 N. H 74.

{{anchor+|.|ACCOUNTABLE RECEIPT. An instrument acknowlcd.-zing the receipt of money or personal property, coupled with an ob- ligation to account for or pay or deliver the whole or some part of it to some person. State v. Riebe. 27 Mi.un. 315. 7 N. W. 262.

{{anchor+|.|ACCOUNTANT. One who keeps accounts; :1 person skilled In keeping books or act-aunts; an expert in accounts or book- keeping.

A person who renders an account. When an executor. guardian. etc.. renders an account of the property in his hands and his administration of the trust. either to the beneilriarv or to a court, he is styled, for the purpose of that proceeding, the "account- ant."

{{anchor+|.|ACCOUNTANT GENERAL, or AC-

COMPTANT GENERAL. An officer of the court of chancery, appointed by act of M