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SOL UCC (VS) 4 YEAR WHYCHAT?
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Posted by mkandy
(64.219.232.170) on April 17, 2003 at 15:19:40:
Anyone feel free to respond please...LadynRed put in a vote of confidence that Whychat would know the answer here. Tell me your assesment on this petition that is being filed against me. A vehicle was repossessed then on April 15 1998 auctioned off, they say in accordance with Article 9 of the Texas UCC, Yet they never notified me of the sale. Frost Bank is bringing suit to recover the balance of 11,702.00. I assumed that the SOL for this expired in April of 2002 because after the sale the debt became a seperate entity. Regardless the SOL of 4 years had expired. I tried to contact Frost to Validate the debt and they referred me to the attorney representing the case. The attorney failed to have me properly served and is now getting the court to issue new citations amending the original. The lawyer said that it is a common mistake that most people assume that the 4 yr SOL is the only avenue to pass a judgement. He said he is using UCC Artilce 3 SOL of 6yr. Treating the Original Installment Sale Contract that was awarded to frost as a negotionable instrument. I saw on CARLAW that a similar case favored the defendant through justification of the 4 yr. SOL. Nevertheless.....I will be going to court soon over this. Hope that there is some insight you or anyone can provide.
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