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Re: SOL Question


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Posted by Marcy (68.102.102.160) on November 15, 2003 at 20:10:54:

In Reply to: SOL Question posted by MarzBarz on November 15, 2003 at 17:26:09:

I searched the Arizone legislature website http://www.azleg.state.az.us/ArizonaRevisedStatutes.asp and I found some info in the statutes as to what Arizone considers and open and written accounts. Here are the two statues:
12-543. Oral debt; stated or open account; relief on ground of fraud or mistake; three year limitation

There shall be commenced and prosecuted within three years after the cause of action accrues, and not afterward, the following actions:

1. For debt where the indebtedness is not evidenced by a contract in writing.

2. Upon stated or open accounts other than such mutual and current accounts as concern the trade of merchandise between merchant and merchant, their factors or agents, but no item of a stated or open account shall be barred so long as any item thereof has been incurred within three years immediately prior to the bringing of an action thereon.

3. For relief on the ground of fraud or mistake, which cause of action shall not be deemed to have accrued until the discovery by the aggrieved party of the facts constituting the fraud or mistake.

12-548. Contract in writing for debt; six year limitation

An action for debt where indebtedness is evidenced by or founded upon a contract in writing executed within the state shall be commenced and prosecuted within six years after the cause of action accrues, and not afterward.



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