Litigation

You're tired of broken promises and you're ready to file suit. What is involved in filing suit? How much does it cost? How long does it take? Answers to these questions and more. You have received your last broken promise and you have decided that now you want to proceed with suit against the debtor. What is involved in filing suit? How much does it cost? How long does it take? Is it worth the effort and expense? The first decision that will be made, in consultation with your attorney, is what type of action will be brought against your customer. The following are the most common causes of action for a typical collection account: Open Account - an open account is typically an account in which purchases are periodically made, with the intent that purchases will be totaled in a single account. A statement is then periodically furnished to the debtor. An open account tends to be one of the simplest and most cost effective methods of establishing an obligation. Other related forms of action include an action on an account stated which is generally defined as an agreement stated between persons who have had previous transactions, fixing the amount due in respect to the transaction and promising payment. Another form of action is that of goods sold and delivered. In an action to recover on a claim for goods sold and delivered, typically the plaintiff must prove delivery of goods and show either an agreement upon the sale price or that the amount claimed represents a reasonable value of the goods actually delivered. Breach of contract - In an action for breach of contract, the essential elements include the establishment of the valid [...]