Re: WhyChat - Need help finding Montana Statute
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Posted by LadynRed
(199.91.33.254) on February 18, 2003 at 10:35:00:
In Reply to: Re: WhyChat - Need help finding Montana Statute posted by scott on February 18, 2003 at 10:15:58:
Scott, I found the same thing, finally: "27-2-409. Acknowledgment of debt or part payment. (1) An acknowledgment or the part payment of a debt is sufficient evidence to cause the relevant statute of limitations to begin running anew.
(2) An acknowledgment must be contained in some writing signed by the party to be charged thereby.
(3) Part payment is any payment of principal or interest. " But, my interpretation of this is that there DOES have to be something in writing, and signed by the debtor, to restart the SOL. The person I was researching this for made a panicked payment (bank draft no less..aaaggghh !) over the PHONE, there was NOTHING in writing. So.. I *believe* they did NOT restart the SOL. WhyChat, is this a correct interpretation ?
I've included the link to this statute so you can add it to your site list :)
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