Running Account

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

Browse or run a search for Running Account in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.

Running Account in Historical Law

You might be interested in the historical meaning of this term. Browse or search for Running Account in Historical Law in the Encyclopedia of Law.

Legal Abbreviations and Acronyms

Search for legal acronyms and/or abbreviations containing Running Account in the Legal Abbreviations and Acronyms Dictionary.

Related Legal Terms

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Mentioned in these terms

Current Account.


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Running Account in the Dictionary Running Account in our legal dictionaries
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Related topics Running Account in the World Encyclopedia of Law


This definition of Running Account is based on the The Cyclopedic Law Dictionary . This entry needs to be proofread.

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Meaning of Running Account

In this law dictionary, the legal term running account is a kind of the Accounting class.


See Also

  • Accounting

  • Posted





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