SOL on credit cards in Ohio?

Posted by lawguy (68.119.155.69) on March 22, 2003 at 13:10:02:

In Reply to: Asset Acceptance/The Credit Store? posted by Greedytea on March 21, 2003 at 10:10:14:

Perhaps I overlooked something, but I poured through the Ohio code, annotations, and cases and I don't see where you all are getting the 4 year SOL for credit cards.

The 4 year SOL in the UCC applies to the sale of goods. This wouldn't apply to a credit card account.

I didn't see a statute for open accounts, but I may have overlooked it. Ohio has a rather large SOL scheme.

My interpretation would be that a credit card account would fall under either the 6 year SOL for contracts not in writing, or the 15 year SOL for contracts in writing.

As most credit cards are received by signing an "application" and then having a card issued, most recent courts look at it as being a contract not in writing. The application is not the contract and does not contain the terms of the contract. The "credit card agreement," the written documentation received with your credit card, contains the terms of the contract. However, since the credit card holder accepts the credit card offer by USING the card, rather than signing the agreement, the contract is not found in writing. Rather, it is an implied contract, the terms of which are found in the credit card agreement.

That is how most of the modern courts have looked at it. There is a great case in either Minnesota or Montana that discusses this. (of course, that case is only binding in that state.)

So anyways, can somebody point me to where the 4 year SOL for Ohio is?

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