{"id":983,"date":"2016-08-10T14:26:27","date_gmt":"2016-08-10T21:26:27","guid":{"rendered":"http:\/\/fiduciarydutiesblog.com\/?p=983"},"modified":"2016-08-10T14:26:27","modified_gmt":"2016-08-10T21:26:27","slug":"what-is-an-account-stated-a-common-law-cause-of-action-that-has-outlived-its-usefulness","status":"publish","type":"post","link":"http:\/\/fresnolawyerblog.com\/?p=983","title":{"rendered":"What is an Account Stated? (A Common Law Cause of Action that Has Outlived its Usefulness)"},"content":{"rendered":"

California still recognizes certain antiquated common law causes of action.\u00a0 When I say antiquated, I mean that the cause of action has been known at law from longer than 600 years.<\/p>\n

One of the common law causes of action is the \u201caccount stated.\u201d\u00a0 Here\u2019s an explanation from Karl Llewellyn, the principal draftsman of UCC Article 2 (\u201cSales\u201d) and an eminent commercial law historian, regarding the basis for an \u201caccount stated.\u201d<\/p>\n

\u201cA situational concept has to do with some collection of events or people or both seen as recurring, seen as a type \u2026 We have, for instance, a situational concept of \u2018account stated,\u2019 with rules of law clustered around it which give it a peculiarly definitive character in settling up the state of obligation.<\/p>\n

\u201cIt was built around periodic reckoning up of running accounts in a world in which book-keeping was not yet what it now is, prices for goods shipped were not reckoned by contract in advance, currencies varied from town to town, and mails were slow.<\/p>\n

\u201c\u2018Stated\u2019 had then a punch.\u00a0 It implied thoughtful, careful going over on both sides as for a grave affair, and it implied real need for getting clarity about a fresh start.<\/p>\n

\"Fresno<\/a><\/p>\n

\u201cNone of this is in the flavor of the label as the conditions on which the high significance of the situation rested have moved from under.\u00a0 The principle has faded out.\u201d<\/p>\n

As should the cause of action, which lingers on long after its purpose has faded.<\/p>\n

Karl N. Llewellyn, The Theory of Rules<\/strong>, edited and with an introduction by Frederick Schauer (Univ. of Chicago Press 2011)<\/p>\n","protected":false},"excerpt":{"rendered":"

California still recognizes certain antiquated common law causes of action.\u00a0 When I say antiquated, I mean that the cause of action has been known at law from longer than 600 years. One of the common law causes of action is the \u201caccount stated.\u201d\u00a0 Here\u2019s an explanation from Karl Llewellyn, the principal draftsman of UCC Article […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-983","post","type-post","status-publish","format-standard","hentry","category-legal-history"],"_links":{"self":[{"href":"http:\/\/fresnolawyerblog.com\/index.php?rest_route=\/wp\/v2\/posts\/983"}],"collection":[{"href":"http:\/\/fresnolawyerblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/fresnolawyerblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/fresnolawyerblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/fresnolawyerblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=983"}],"version-history":[{"count":0,"href":"http:\/\/fresnolawyerblog.com\/index.php?rest_route=\/wp\/v2\/posts\/983\/revisions"}],"wp:attachment":[{"href":"http:\/\/fresnolawyerblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=983"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/fresnolawyerblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=983"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/fresnolawyerblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=983"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}