Open Account
Description
This section is from the "A Complete Dictionary of Dry Goods" book, by George S. Cole. Also available from Amazon: A complete dictionary of dry goods and history of silk, cotton, linen, wool and other fibrous substances,: Including a full explanation of the modern processes ... together with various useful tables.
Open Account
Open Account. A course of business dealing still continued between two parties. An account of which up to date there has been no statement made; an account not stated. Also termed an account current, and formerly abbreviated a/c a sign now almost exclusively used for account. A stated account is an account or statement showing the result of a course of transactions for adjustment or settlement between two parties.
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