Re: Question on SOL

Posted by Why Chat (209.240.198.61) on June 24, 2003 at 22:33:27:

In Reply to: Re: Question on SOL posted by LadynRed on June 24, 2003 at 15:36:51:

No, a check is NOT an instrument in writing, just like a credit card application is not a written contract. The legal definition of an "instrument in writing" lies not in the fact that it is PHYSICALLY in writing, but that it fulfils that State's statutes of frauds definition of a LEGAL "instrument in writing"

In some cases, in some States their statutes STATE that an acknowledment in writing with a payment will restart the SOL,(Nebraska) HOWVER, you cannot use that for anything other than a contract that WAS "in writing" in the first place.

SO, it might apply to an installment loan, but NEVER to an open end credit card agreement.

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