why chat your very smart

Posted by mike (67.24.124.114) on December 03, 2002 at 05:38:08:

Okay, explain this-
Posted by NYC HELP (66.119.33.135) on October 08, 2002 at 17:17:51:
On the Credit card agreement for Chase it says that its ruled by the laws of Delaware and the Federal Gov't...does this mean the SOL is 3 years on the time they have to file a suit from the date of my last default.
I live in NYC and if the cardmemebre agreement stated DELWARE Law applies then the SOL is over and tehy can't sue me and win...
It was a chase card acquired in 1994 and the default took place in Sept 1999.
So does Delaware law apply or Ny law?
NYC

To enlarge on the subject;
IF, for instance, the poster had taken out the cc in a shorter SOL State, there are State's (like Wyoming) that apply the shorter SOL to someone who has moved into their State.
In that situation, although the venue AND jurisdiction remain in Wyoming, the Wy. statutes waive the longer SOL.
It is POSSIBLE, although I have not found it so far, that NY has a similar waiver. However,in those States I have found it in, it would only apply if the "cause of action"(first default) occurred in a shorter SOL State.
It is impossible to even remotely consider a Del. SOL as applying, as that State (the cc incorporation State) was NEVER a legal venue OR jurisdiction for the case.
The only legal reason for using the "Del. choice of law" to the best of my knowledge, is with reference to State banking and interest statutes.

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