Author Topic: New york State laws,uniform Commercial code 2-725  (Read 7005 times)

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motherofmany

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New york State laws,uniform Commercial code 2-725
« on: December 27, 2009 02:50:59 AM »

I'm reading New york State  laws,uniform Commercial code 2-725 on the SOL on store card .

 "An  action  for breach of any contract for sale must be commenced "
  within four years after the cause of action has accrued. By the original
  agreement the parties may reduce the period of limitation  to  not  less
  than one year but may not extend it.

So the SOL for a Store card like sears,Jcpenny,Macy's would Be 4 years from last payment.

Anyone familiar with this!

macbethany

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Re: New york State laws,uniform Commercial code 2-725
« Reply #1 on: March 29, 2010 03:52:53 PM »
Hi,

I see there were no answers to this question...so I thought a "re ask" might get it moved up and into some expert territory.

I also would like to ask for any advise regarding UCC (particularly NYS) in terms of how a store charge card (like sears) would be governed in terms of SOL (legal-not reporting)  I know that someone (I think it was Fly ...can't locate the post now)
 said that it didn't matter when the last purchase was (in my case 1998) but when the last payment was made (in my case 4 years ago).
Any thoughts on the use of NYS UCC which has a SOL of 4 years not 6?
The account was never used for anything other than sears merchandise last purchase in 1998. Last payment was more than 4 years ago ...state UCC says 4 years from cause of action account charged off in 2005. 
Any thoughts would be appreciated

maylaur

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Re: New york State laws,uniform Commercial code 2-725
« Reply #2 on: March 29, 2010 04:05:52 PM »
Not paying would certainly constitute breach of contract.

Q for the experts:  Are store cards treated differently than other CCs? 
Anything I post is from my own personal experience, and might not apply to your own situation. 
I do not offer legal advice; for that, please consult a lawyer.

macbethany

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Re: New york State laws,uniform Commercial code 2-725
« Reply #3 on: March 29, 2010 05:01:21 PM »
Also, because citi took over the portfolio of sears cc would this automatically change the original store card agreement into the longer open account status?
Only purchases made were directly through sears card in sears store. No citcard was issued or used..just the billing reverted to them

Mischievous Smurfy

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Re: New york State laws,uniform Commercial code 2-725
« Reply #4 on: March 30, 2010 05:34:57 PM »
Not paying would certainly constitute breach of contract.

Q for the experts:  Are store cards treated differently than other CCs?

Depends on state law and case law...

Its my understanding that "store cards" such a sears cards are not open accounts in Florida ... whereas another card that is not a store card is an open account. 

I forget what the specific SOLS are ... and this is just an example ... you need to research the issue in your state.
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why are we requesting validation instead of disputing???  Why Why Why

Admin0248

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Re: New york State laws,uniform Commercial code 2-725
« Reply #5 on: March 30, 2010 07:21:42 PM »
More detailed discussion of Florida state statutes and interpretation is available at www.floridadebtor.com .


macbethany

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Re: New york State laws,uniform Commercial code 2-725
« Reply #6 on: March 31, 2010 05:38:04 PM »
Does anyone know the NY version or where I might be able to research?
Thank you!

maylaur

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Re: New york State laws,uniform Commercial code 2-725
« Reply #7 on: March 31, 2010 05:52:06 PM »
I don't know if it will have what you need, but you can search at http://www.nysenate.gov/legislation for laws pertaining to credit cards.
Anything I post is from my own personal experience, and might not apply to your own situation. 
I do not offer legal advice; for that, please consult a lawyer.

macbethany

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Re: New york State laws,uniform Commercial code 2-725
« Reply #8 on: April 01, 2010 03:49:34 PM »
Thank you!

I'll give it a try!

Mischievous Smurfy

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Re: New york State laws,uniform Commercial code 2-725
« Reply #9 on: April 02, 2010 11:15:59 AM »
actually there was a quite memorable discussion on the commencement of the SOL in NY a while back...

they don't use the terminology Date of first delinquency but the method of determining what date gives rise to a cause of action is the same as DOFD.
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why are we requesting validation instead of disputing???  Why Why Why

montag

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Re: New york State laws,uniform Commercial code 2-725
« Reply #10 on: April 02, 2010 04:49:06 PM »
In every cc agreement I've seen, there is a clause stating 'the laws of [State] govern this contract' or something similar.  You need to check the contract to see what state laws apply.

Kitten

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Re: New york State laws,uniform Commercial code 2-725
« Reply #11 on: April 02, 2010 05:07:21 PM »
"By the original agreement the parties may reduce the period of limitation to not less than one year but may not extend it."

I would interpret that as saying that a contractual agreement, like a choice of law provision, can reduce the SOL but not extend it. Doesn't mean I'd necessarily win, but that's the argument I'd make.

motherofmany

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Re: New york State laws,uniform Commercial code 2-725
« Reply #12 on: April 06, 2010 05:18:20 AM »


Hi,

I see there were no answers to this question...so I thought a "re ask" might get it moved up and into some expert territory.

I also would like to ask for any advise regarding UCC (particularly NYS) in terms of how a store charge card (like sears) would be governed in terms of SOL (legal-not reporting)  I know that someone (I think it was Fly ...can't locate the post now)
 said that it didn't matter when the last purchase was (in my case 1998) but when the last payment was made (in my case 4 years ago).
Any thoughts on the use of NYS UCC which has a SOL of 4 years not 6?
The account was never used for anything other than sears merchandise last purchase in 1998. Last payment was more than 4 years ago ...state UCC says 4 years from cause of action account charged off in 2005. 
Any thoughts would be appreciated



What I found out is !

Yes,  the SOL is fours years for store credit cards.

However, they can still sue you.  It does not mean that they will prevail.   The SOL defense is an affirmative defense that must be raised in your answer.  You can also raise the affirmative defense that the plaintiff lacks standing as well


 
Also, because citi took over the portfolio of sears cc would this automatically change the original store card agreement into the longer open account status?
Only purchases made were directly through sears card in sears store. No citcard was issued or used..just the billing reverted to them
into play  i am unsure !




motherofmany

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Re: New york State laws,uniform Commercial code 2-725
« Reply #13 on: April 06, 2010 05:33:26 AM »
I would agree with kitten!

"By the original agreement the parties may reduce the period of limitation to not less than one year but may not extend it."

I would interpret that as saying that a contractual agreement, like a choice of law provision, can reduce the SOL but not extend it. Doesn't mean I'd necessarily win, but that's the argument I'd make.


take a look at this site
 http://law.justia.com/newyork/codes/uniform-commercial-code/
I hope it helps!

Doctor Evil

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Re: New york State laws,uniform Commercial code 2-725
« Reply #14 on: April 06, 2010 01:56:40 PM »
motherofmany:  unless I'm missing something, and you are talking about business debt, the UCC has no applicability to your situation.

 

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