STATUTE OF LIMITATIONS
Open Acct.: 6
Written Contract for payment of money : 6
Written Contract (other than payment of money): 10
Written Contract for sale of goods: 4
Pursuant to Indiana's version of the Uniform Commercial Code, actions for breach of any contract for sale of goods is subject to a four year statute of limitations. I.C. 26-1-2-725. C. Personal injury/property damage.
6 Years Contracts Not in Writing; §34-11-2-7 IC 34-11-2-7
Six year limitation
Sec. 7. The following actions must be commenced within six years after the cause of action accrues:
(1) Actions on accounts and contracts not in writing.
2) Actions for use, rents, and profits of real property.
(3) Actions for injuries to property other than personal property, damages for detention of personal property and for recovering possession of personal property.
6 YearsWritten Contracts; §34-11-2-9 IC 34-11-2-9
Promissory notes, bills of exchange, or written contracts for payment of money
Sec. 9. An action upon promissory notes, bills of exchange, or other written contracts for the payment of money executed after August 31, 1982, must be commenced within six (6) years after the cause of action accrues.
Chapter 3. Accrual of Cause of Action;
Time From Which Limitation Period Runs IC 34-11-3-1
Mutual, open, and current accounts
Sec. 1. In an action brought to recover a balance due upon a mutual, open, and current account between the parties, the cause of action is considered to have accrued from the date of the last item proved in the account on either side.
THIS MEANS THE SOL STARTS FROM LAST CHARGE OR PAYMENT ON THE ACCOUNT
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