closed account

closed account
A detailed statement of the mutual debit and credit demands between parties to which no further changes can be made on either side.

Dictionary from West's Encyclopedia of American Law. 2005.


closed account
A detailed statement of the mutual debit and credit demands between parties to which no further changes can be made on either side.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

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Look at other dictionaries:

  • Closed Account — In the simplest sense, any account that has been closed out or otherwise terminated, either by the customer or the custodian. From an accounting perspective, closed accounts can also mean an account that is made ready for the new year by closing… …   Investment dictionary

  • closed account — An account to which no further additions can be made on either side, but which remains still open for adjustment and set off, which distinguishes it from an account stated …   Black's law dictionary

  • closed account — An account to which no further additions can be made on either side, but which remains still open for adjustment and set off, which distinguishes it from an account stated …   Black's law dictionary

  • closed account — bank account from which withdrawals cannot be made …   English contemporary dictionary

  • closed account — noun 1. : an account whose total debit and total credit entries are equal and show no balance 2. : an activity that has definitely ended …   Useful english dictionary

  • account — A detailed statement of the mutual demands in the nature of debit and credit between parties, arising out of contracts or some fiduciary relation. A statement in writing, of debits and credits, or of receipts and payments; a list of items of… …   Black's law dictionary

  • account — A detailed statement of the mutual demands in the nature of debit and credit between parties, arising out of contracts or some fiduciary relation. A statement in writing, of debits and credits, or of receipts and payments; a list of items of… …   Black's law dictionary

  • Closed-loop authentication — Closed loop authentication, as applied to computer network communication, refers to a mechanism whereby one party verifies the purported identity of another party by requiring them to supply a copy of a token transmitted to the canonical or… …   Wikipedia

  • Closed head injury — Closed head injuries are a type of Traumatic Brain Injury in which the skull and dura mater remain intact. Closed head injuries are the leading cause of death in children under 4 years old and the most common cause of physical disability and… …   Wikipedia

  • Closed on Account of Rabies — Compilation album by Various Artists Released 9th December 1997 Genre …   Wikipedia

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