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RUNNING ACCOUNT Definition & Legal Meaning

Definition & Citations:

An open unsettled account, as distinguished from a stated and liquidated account. “Running accounts mean mutual accounts and reciprocal demands between the parties, which accounts and demands remain open and unsettled.” Brackenridge v. Baltzell, 1 Ind. 335; Leonard v. U. S., 18 Ct. CI. 3S5; Picker v. Fitzelle, 28 App. Div. 519, 51 N. Y. Supp. 205.


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