ACCOUNT STATED. An agreed bal ance of accounts. An account which has been examined and accepted by the parties. 2 Atk. Ch. 251.
In Equity. Acceptance may be inferred from circumstances, as where an account is rendered to a merchant, and no objection is made, after sufficient time. 2 Vern. Ch. 276 ; 1 Sim. & S. Ch. 333 ; 3 Johns. Ch. 569 ; 7 Cranch, 147; 1 M'Cord, Ch. 156 ; 2 Md. Ch. Dec. 433.
Such an account is deemed conclusive be tween the parties, 2 Brown, Ch. 62, 310 ; 2 Yes. Ch. 566, 837 ; 1 Swanst. Ch. 460; 6 Madd. Ch. 146; 20 Ala. N. s. 747 ; 3 Johns. Ch. N. Y. 587 ; 1 Gill, Md. 350 ; Jones, Eq. No. C. 109, to the extent agreed upon, 1 Hopk. Ch. N. Y. 239, unless some fraud, mistake, or plain error is shown, 1 Parsons, Contr. 174 ; 1 Johns. Ch. N. Y. 550 ; 1 M'Cord, So. C. 156 ' • and in such case, generally, the account will not be opened, but liberty to surcharge or falsify will be given. 2 Atk. Ch. 119 ; 9 Ves. Ch. 265 ; 1 Schodles & L. Ch. Ir. 192 ; 7 Gill, Md. 119 ; 1 Md. Ch. Dec. 306.
At Law. An account stated is conclusive as to the liability of the parties with reference to the transactions included in it, 3 Jones, No. C., except in cases of fraud or manifest error. 1 Esp. 159 ; 24 Cohn. 591 ; 4 Wisc. 219 ; 5 Fla. 478. See 4 Sandf. N. Y. 311.
2. Acceptance by the party to be charged must he shown by the one who relies upon the account. 10 Humphr. Tenn. 238; 12 Ill. 111.
The acknowledgment that the sum is due is sufficient, 2 Mod. 44 ; 2 Term, 480, though there be but a single item in the account. 13 East, 249 ; 5 Mamie & S. 65; 1 Show. 215. Acceptance may also be inferred from re taining the account a sufficient time without making objection, 7 Cranch, 147; 3 Watts & S. Penn. 109 ; 10 Barb. N. Y. 213 ; 4 Sandf. N. Y. 311; see 22 Penn. St. 454, and from other pircumstances. 1 Gill, Md. 234.
A definite ascertained sum must be stated to be due. 9 Serg. & R. Penn. 241.
It must be made by a competent person, ex cluding infants and those who are of unsound mind. 1 Term, 40.
Husband and wife may join and state an account with a third person. 2 Term, 483 ; 16 Eng, L. & Eq. 290.
An agent may bind his principal. 3 Johns. Ch. 569. Partners may state accounts ; and an action lies for the party entitled to the balance. 4 Dall. Penn. 434 ; 1 Wash. C. C. 435 ; 16 Vt. 169.
The acceptance of the account is an acknow ledgment of a debt due for the balance, and will support assumpsit, 11 Eng. L. & Eq. 421: it is not, therefore, necessary to prove the items, but only to &Drove an existing debt or demand, and the stating of the account. 16 Ala. N. s. 742.