SB 27
Reducing statute of limitations on actions to recover on oral and written contracts
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- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
This bill changes the time limits for filing lawsuits to recover money owed under contracts, bonds, and recognizances in West Virginia. It reduces the statute of limitations for actions based on written and oral contracts to five years, with exceptions for certain types of contracts and bonds. The bill also adjusts the timeframes for actions related to fiduciaries (like executors and guardians) and recognizances, aiming to provide more opportunities for recovery.
Key provisions
- Reduces the statute of limitations for written and oral contracts to five years.
- Extends the statute of limitations for actions on bonds of fiduciaries and personal representatives.
- Adjusts the timeframes for actions on recognizances, shortening the limit for bail recognizances.
- Specifies that fraud or mistake claims accrue when the fraud or mistake is discovered or should have been discovered.
- Applies the new limitations to actions against fiduciaries even if they have settled accounts.
- Clarifies the accrual date for actions against fiduciaries regarding settled accounts.
Who is affected
- Businesses and individuals entering into contracts
- Fiduciaries (executors, administrators, guardians, etc.)
- Personal representatives of deceased individuals
- Legal professionals
- Individuals seeking to recover debts
Notable changes
- Shortens the statute of limitations for many types of contractual claims.
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