An open unset* tied account, as distinguished from a stated and liquidated account “Running accounts mean mutual accounts and reciprocal de-mands between the parties, which accounts and demands remain open and unsettled.” Brackenridge v. Baltzell, 1 Ind. 335; Leonard v. U. S., 18 Ct Cl. 385; Picker v. Fitzeile, 28 App. Div. 519, 51 N. Y. Supp. 205
Source: Black's Law Dictionary 2nd Ed (1910)
