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Collections Lawyer
Effective Collections Lawyer

UNPAID INVOICES / ACCOUNTS STATED

 

A substantial amount of business-to-business (B2B) commerce involves the sale of goods based 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 trials and tribulations associated with not being paid in a timely manner. Failure to timely service account receivables drives many otherwise viable companies out of business.

ACCOUNT STATED CLAIM

Unpaid invoices are frequently grouped together into a cause of action known as “account stated.” Account stated is a statement between the plaintiff and defendant that must be proven by establishing the existence of prior transaction, a fixed amount of the total due from prior transactions, and a set date for payment from the defendant. An example of an account stated would be the periodic billing between a vendor and customer. If no objection to the amount of the state bill is made within a reasonable amount of time, the vendor may have grounds in this case for account stated if the customer failed to make payment. Failure to respond to a demand on its own does not usually establish liability for an account stated claim. To the contrary, an open account is an unsettled debt arising from items of work, with the expectation of further transactions subject to both future settlement and adjustment.

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. Our collections lawyers have a vast amount of experience in reclaiming unpaid debts and allowing our clients to make themselves whole again. Contact our office today for more information on how legal intervention can aid you through the processes related to unpaid invoices and accounts stated.

When. Results. Count.

We are here to help YOU with any business litigation matter you may have!