Account Stated and Open Account — Separate Causes of Action

There are two different causes of action known as account stated and open account. Although these are separate causes of action, and have different burdens of proof, they are oftentimes pled together and confused for one another. These are causes of action that would be asserted when a party / creditor claims another party / debtor owes it money from a transaction. ACCOUNT STATED An account stated is a cause of action when there is an “agreement between persons who have had previous transactions, fixing the amount due in respect of such transactions, and promising payment.” Farley v. Chase Bank, U.S.A., N.A.,...