Author Topic: Trying to determine start of SOLC (state law included)  (Read 448 times)

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rubberduck

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Trying to determine start of SOLC (state law included)
« on: March 12, 2012 10:13:52 AM »
Just wondering if someone can help with this state code. I included the part that I believe deals with credit cards, and I'm trying to determine whether SOLC begins with last payment or first default.

The final portion in bold leads me to believe it's the date of last payment, with the "items" being either payments or charges. Anyone agree or disagree?

Quote
CODE OF CIVIL PROCEDURE SECTION 335. The periods prescribed for the
commencement of actions other than for the recovery of real property, are as follows:

337. Within four years:
An action to recover a balance due upon a mutual, open and current
account, the items of which are in writing; provided, however, that
where an account stated is based upon an account of one item, the
time shall begin to run from the date of said item, and where an
account stated is based upon an account of more than one item, the
time shall begin to run from the date of the last item.