Stone v. First National Bank

Pannell, Judge.

1. “ ‘An account stated is an agreement between persons who have had previous transactions, fixing the amount due in respect of such transactions, and promising payment.’ Ward v. Stewart, 103 Ga. 260, 262 (3) (29 SE 872); Moore v. Hendrix, 144 Ga. 646 (87 SE 915); Borders v. Gay, 6 Ga. App. 734 (65 SE 788). Bouvier defines an account stated as ‘An agreed balance of accounts. An account which has been examined and accepted by the parties.’ An account stated establishes the creditor’s claim and entitles him to bring an action on it as a liquidated demand; and in the absence of…