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Difference between revisions of "Account"

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(Created page with 'Category:Legal Term <div type="article"><p><i>A written list of transactions, noting money owed and money paid; a detailed statement of mutual demands arising out of a contra...')
 
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<div type="article"><p><i>A written list of transactions, noting money owed and money paid; a detailed statement of mutual demands arising out of a contract or a fiduciary relationship.</i></p>
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''A written list of transactions, noting money owed and money paid; a detailed statement of mutual demands arising out of a contract or a [[Fiduciary|fiduciary]] relationship.''
<p>An account can simply list payments, losses, sales, debits, credits, and other monetary transactions, or it may go further and show a balance or the results of comparing opposite transactions, like purchases and sales. Businesspersons keep accounts; attorneys may keep escrow accounts; and executors must keep accounts that record transactions in administering an estate.</p>
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An account can simply list payments, losses, sales, debits, credits, and other monetary transactions, or it may go further and show a balance or the results of comparing opposite transactions, like purchases and sales. Businesspersons keep accounts; attorneys may keep escrow accounts; and executors must keep accounts that record transactions in administering an estate.
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[[Category:Legal_Term]]

Latest revision as of 16:35, 29 April 2010

A written list of transactions, noting money owed and money paid; a detailed statement of mutual demands arising out of a contract or a fiduciary relationship.

An account can simply list payments, losses, sales, debits, credits, and other monetary transactions, or it may go further and show a balance or the results of comparing opposite transactions, like purchases and sales. Businesspersons keep accounts; attorneys may keep escrow accounts; and executors must keep accounts that record transactions in administering an estate.

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