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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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