Archive for August 10th, 2016

What is an Account Stated? (A Common Law Cause of Action that Has Outlived its Usefulness) (2016-8-10)

California still recognizes certain antiquated common law causes of action.  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 “account stated.”  Here’s an explanation from Karl Llewellyn, the principal draftsman of UCC Article […]