Legal Definition and Related Resources of Running Account
Meaning of Running Account
A mutual account between creditor and debtor which shows all transactions between parties , being the continuous record of the entry of the charges as well as payments on account .
Running Account Alternative Definition
An open, unsettled account, as distinguished from a stated and liquidated account. “Running accounts mean mutual accounts and reciprocal demands between the parties, which accounts and demands remain open and unsettled.” Blackford, J., 1 Ind. (Carter) 335.
Related Entries of Running Account in the Encyclopedia of Law Project
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Running Account in Historical Law
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Legal Abbreviations and Acronyms
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| Resource | Description |
|---|---|
| Running Account in the Dictionary | Running Account in our legal dictionaries | Browse the Legal Thesaurus | Find synonyms and related words of Running Account |
| Legal Maxims | Maxims are established principles that jurists use as interpretive tools, invoked more frequently in international law |
| Legal Answers (Q&A) | A community-driven knowledge creation process, of enduring value to a broad audience |
| Related topics | Running Account in the World Encyclopedia of Law |
Notice
This definition of Running Account is based on the The Cyclopedic Law Dictionary . This entry needs to be proofread.
Vocabularies (Semantic Web Information)
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| Sitemap Index | Sitemap Index, including Taxonomies |
| https://legaldictionary.lawin.org/running-account/ | The URI of Running Account (more about URIs) |
Meaning of Running Account
In this law dictionary, the legal term running account is a kind of the Accounting class.
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