Re: Old ITT loan

Posted by Why Chat (209.240.222.130) on April 04, 2002 at 15:04:11:

In Reply to: Re: Old ITT loan posted by Robin on April 04, 2002 at 10:25:38:

If they contact you,send them a rrr letter. State "this is not a refusal to pay.I Understand that under Ohio statutes,(copy attached) there is a 4 year statute of limitation for sales contracts.This letter will serve to request that you cease and desist from all collection activities,and all threats of or filing of any legal action.Any such violation of the FCRA will be reported to the FTC and other appropriate authority.
1302.98 (UCC 2-725) Statute of limitations in contracts for sale. 
Text of Statute
(A) An action for breach of any contract for sale must be commenced within four years after the cause of action has accrued. By the original agreement the parties may reduce the period of limitation to not less than one year but may not extend it.
(B) A cause of action accrues when the breach occurs, regardless of the aggrieved party's lack of knowledge of the breach. A breach of warranty occurs when tender of delivery is made, except that where a warranty explicitly extends to future performance of the goods and discovery of the breach must await the time of such performance, the cause of action accrues when the breach is or should have been discovered.
(C) Where an action commenced within the time limited by division (A) of this section is so terminated as to leave available a remedy by another action for the same breach, such other action may be commenced after the expiration of the time limited and within six months after the termination of the first action unless the termination resulted from voluntary discontinuance or from dismissal for failure or neglect to prosecute.
(D) This section does not alter sections 2305.15 and 2305.16 of the Revised Code on tolling of the statute of limitations, nor does it apply to causes of action which have accrued before July 1, 1962.

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