Account - Definition - Law Dictionary Home Dictionary Definition account

Definition :

Account, means a formal statement of transactions between two parties including debtor-creditor relation and arising out of contract or some fiduciary relations, Central Bureau of Investigation v. V.C. Shukha, (1998) 3 SCC 410.

Means a claim or demand by one person against another creating a debtor-creditor relations, a formal statement in detail of transactions between two parties arising out of contracts or some fiduciary relations, Words and Phrases, Permanent. Edn. Vol. 1A at p. 336-338.