To make Ohio a more competitive state, the Ohio General Assembly amended Ohio Revised Code Section 2305.06 to reduce the statute of limitations for written contracts in Ohio from 15 years to 8 years. For claims accruing prior to the effective date of the change, September 28, 2012, the 15-year limitation period will generally remain effective. The 8-year limitation will apply in some cases, if from the effective date of the change, the 8-year period is shorter than the 15- year period previously accruing. If you have a claim accruing prior to the September 28, 2012 date of the new limitation period, you should closely look at the expiration date to determine the correct time period for the statute of limitations.
Reduction From 15 Years To 8 Years For Statute Of Limitations On Written Contracts
Post on January 4th, 2013