account stated

noun
account stat·​ed | \ -ˈstā-təd \
plural accounts stated

Legal Definition of account stated

: an account presented by a creditor to his or her debtor which by implied or express acceptance has been agreed upon by both parties as correct

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“Account stated.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/account%20stated. Accessed 24 Sep. 2020.

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