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Re: another question written or unwritten contract


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Posted by Why Chat on March 13, 2002 at 13:38:52:

In Reply to: Re: another question written or unwritten contract posted by JD on March 13, 2002 at 09:57:30:


Iowa's ucc statutes cover open accounts under "other" Hypothetically speaking,even an oral contract,if it were for an open type of loan account would be covered under a State's "open" SOL.And, no matter how much or little writing or signing is involved, a open-ended credit account is covered as "open" or in Iowa's and several other States as "other" even though it is listed as "open" on the sites.
IOWA
INTEREST RATE
Legal: 5%
Judgment: 10%
STATUTE OF LIMITATIONS (IN YEARS)
Open Acct.: 5
Written Contract: 10
Domestic Judgment: 10-can be renewed in the 9th year
Foreign Judgment: 10-can be renewed in the 9th year
BAD CHECK LAWS (CIVIL PENALTY)
Triple check up to $500 over check amount
GENERAL GARNISHMENT EXEMPTIONS
See federal law.
COLLECTION AGENCY BOND & LICENSE
Bond: No
License: No
Fee: No


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