Simple English definitions for legal terms
Read a random definition: bribe-giver
Definition: A detailed statement of the debits and credits between parties to a contract or to a fiduciary relationship; a reckoning of monetary dealings.
Examples:
These examples illustrate the definition of a long account as a detailed statement of monetary dealings between parties. In the case of an executor filing an annual account, it shows a detailed record of the executor's financial transactions with an estate. In the case of a brokerage account, it shows a detailed record of the investor's financial transactions with the broker. In the case of a joint bank account, it shows a detailed record of the financial transactions between the account holders.