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Re: Missouri Statute of Limitations for Credit Card Debt-CORRECTION


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Posted by Why Chat on February 12, 2002 at 16:45:07:

In Reply to: Re: Missouri Statute of Limitations fo Credit Card Debt posted by Why Chat on February 12, 2002 at 15:56:09:


I looked at the case- It is even LESS pertinent than I thought! Credit Car debts are considered "open" or "other"-NEVER "written" as the tems and conditions can be changed only by the credit grantor without any agreement from the debtor.I have posted elements of the Mo. case,which dealt with a flaw in their statutes.

Missouri has two statutes of limitations related to contract actions. Section 516.110(1) applies to any "action upon any writing . . . for the payment of money or property" and requires the claim to be brought within ten (10) years.
Section 516.120(1) applies to "all actions upon contracts, obligations or liabilities, express or implied," except those mentioned in section 516.110. Under this statute, all claims must be brought within five (5) years.
The two conflicting laws have caused some confusion in the courts in contract cases.
(I CAN SEE WHY !)
The Court held that the ten-year statute of limitations applies to every breach of contract action in which the plaintiff seeks a judgment from the defendant for payment of money the defendant agreed to pay in a written contract.
(WRITTEN CONTRACT)
The case is Hughes Development Company v. Omega Realty Company,


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