ACCOUNT

Search:

ACCOUNT

ACCOUNT

ACCOUNT, practice. A statement of the receipts and payments of an executor, administrator, or other trustee, of the estate confided to him. 2. Every one who administers the affairs of another is required at theend of his administration to render an account of his management of thesame. Trustees of every description can, in general, be compelled by courtsof chancery to settle accounts, or otherwise fully execute their trusts.Where there are no courts of chancery, the courts of common law are usuallyinvested with power for the same purposes by acts of legislation. When aparty has had the property of another as his agent, he may be compelled atcommon law to account by an action of account render. 3. An account is also the statement of two merchants or others who havedealt together, showing the debits and credits between them.

Terms of Use | Canadian Lawyers