Account – violation of fiduciary relation or to recover certain fixed sum of money for business contract breach

Definition of Account:

n. (14c.) 1. ACCOUNTING (3) <the principal filed an action for account against his agent>. — Also spelled (archaically) accompt.”

    “The action of account lies where one has received goods or money for another in a fiduciary capacity, to ascertain & recover the balance due. It can only be maintained where there is such a relationship between the parties, as to raise an obligation to account, & where the amount due is uncertain & unliquidated.

  • Benjamin J. Shipman, Handbook of Common-Law Pleading § 56, at 144 (Henry Winthrop Ballantine ed., 3d ed. 1923)

“2. ACCOUNTING (4) <the contractor filed an action for account against the nonpaying customer>. 3. A statement by which someone seeks to describe or explain an event <Fred’s account o the holdup differed significantly from Martha’s> 4. A detailed statement of the debits & credits between parties to a contract or to a fiduciary relationship; a reckoning of monetary dealings <the trustee balanced the account at the end of each month>. In wills & estates, an account is a brief financial statement of the manner in which an executor or administrator has performed the official duties of collecting the estate’s assets & paying those who are entitled.  An account charges the executor or administrator with the value of the estate as shown by the inventory, plus any increase, & credits the executor with expenses & costs, duly authorized disbursements, & the executor’s commission. — Abbr. Acct.; a/c. — Also termed accounting. See STATEMENT OF ACCOUNT. 5. A course of business dealings or other relations for which records must be kept <open a brokerage account>.”

Definition of ACCOUNTING (3) & (4):

“3. A legal action to compel a defendant to account for & pay over money owed to the plaintiff but held by the defendant (often the plaintiff’s agent); ACCOUNTING FOR PROFITS. — Also termed account render; account; action of account. 4. More broadly, an action for the recovery of money for services performed, properly sold & delivered, money loaned, or damages for the nonperformance of simple contracts. Such an action is available when the rights of parties will be adequately protected by the payment of money. — Also termed action on account; account; action of book debt.

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