See Also: ACCOUNT, practice(law)
no-account(dictionary)
account(1)(dictionary)
account(2)(dictionary)
Account(finance)
On Account(money)
Key Account(money)
Account(money)
TT&L account(money)
Managed account(finance)

ACCOUNT, practice (law)


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