statue of limitation
Date: Wed, 07/02/2008 - 20:34
Hi.
The credit card acct was opened when I was in California.
And I now reside in New York.
According to the Agreement, applicable law(s) are South Dakota Law and Federal Law.
So, which statue of limitation will be applied for this case.
And I could not find federal statue of limitation on open acct.
Is there someone knows the answer?
Thank you very much.
The credit card acct was opened when I was in California.
And I now reside in New York.
According to the Agreement, applicable law(s) are South Dakota Law and Federal Law.
So, which statue of limitation will be applied for this case.
And I could not find federal statue of limitation on open acct.
Is there someone knows the answer?
Thank you very much.
well, here's the rundown... South Dakota and New York both ha
well, here's the rundown...
South Dakota and New York both have SOL of 6 years on open accounts, which is what credit cards are. California has a SOL of 4 years. So, since you live in NY now, following SD law is the same as following your home state's, at least as far as the SOL is concerned. I would check the laws carefully, as it is not by mistake that they would choose a particular state's laws to govern their contracts.
Just to clarify, you would follow the SOL for your current home
Just to clarify, you would follow the SOL for your current home state.
Also, not all credit cards are considered open-ended. Most are
Also, not all credit cards are considered open-ended. Most are considered written accounts.
