COMMERCIAL CONTRACT DISPUTES
Disputes amongst businesses arise all the time. Whether it be a partnership dispute, the interpretation of a limited lability company operating agreement, or a breach of contract claim, hiring an attorney focused on business law and business litigation is important for fostering a resolution. At Law Offices of Paul A. Humbert, P.L. we can guide you through commercial disputes in Florida.
UNPAID INVOICES / ACCOUNTS STATED
Much business to business (B2B) commerce involves the sale of goods on credit. A vendor may supply merchandise or services to a client, with the expectation of payment at a later date. Unfortunately, many businesses have experienced the pain of not being paid on time. Failure to timely service accounts receivables drive many otherwise feasible companies out of business.
ACCOUNT STATED CLAIM
Unpaid invoices are often grouped into a cause of action known as “account stated.” In order to establish a claim for account stated, a plaintiff must prove that the plaintiff and defendant had previous transactions, fixing the amount due of said transactions, and a promise to pay by the defendant. An example of an account stated would be periodic billing between a vendor and a customer. If no objection to the amount of the bill is made within a reasonable time, the vendor may have a cause of action for account stated if the customer failed to make payment. Failure to respond to a demand, without more, would likely not establish liability for an account stated claim.
On the other hand, an open account is an unsettled debt arising from items of work, with the expectation of further transactions subject to future settlement and adjustment. The key to properly servicing unpaid invoices is to act swiftly. Of course, cordial attempts to secure payment of the unpaid invoices should be the first order of business. Phone calls, letters, and emails can all work to secure payment. However, once those avenues are exhausted, you must act with dispatch to file suit. In our firm’s experience, many businesses wait too long to reduce their unpaid invoices to suit and judgment. By the time the matter is reduced to a judgment, the debtor may have packed up and gone. Working quickly to consult our firm early in the process can increase the chances of recovery.
COLLECTION LAW FIRM
At the Law Offices of Paul A. Humbert, P.L., we guide businesses through the process of ensuring timely payment for goods and services rendered. We urge you to contact us if you or your business has unpaid receivables and invoices that need attention. Contact our office today for more information on how legal intervention can aid you through the processes related to contractual disputes, unpaid invoices and accounts stated.