STATUTE OF LIMITATIONS
CAUSE OF ACTION LIMITATION
*(1)see footnotes
THREE YEARS: §15-3-530
Open Acct.:
Written Contract Not Under Seal;
Oral Contracts;
SECTION 15-3-530.
Within three years:
(1) an action upon a contract, obligation, or liability, express or implied, excepting those provided for in Section (2)15-3-520
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*(1)SECTION 15-3-120. Effect of new promises in writing or part payments.
No acknowledgment or promise shall be sufficient evidence of a new or continuing contract whereby to take the case out of the operation of this chapter unless it be contained in some writing signed by the party to be charged thereby. But payment of any part of principal or interest is equivalent to a promise in writing.
THIS IS FOR PAYMENT TO THE ORIGINAL CREDITOR AND DOES NOT APPLY TO A 3RD PARTY COLLECTION AGENCY
SECTION 15-3-130. Suits on causes saved from bar of statute by part payment or written acknowledgment.
All actions upon causes of action which would be barred by the statute of limitations but for part payment or a written acknowledgment shall be brought on the original cause of action and the part payment or written acknowledgment shall be evidence to prevent the bar of the statute of limitations.
(2)SECTION 15-3-520.
Within twenty years:
(a) an action upon a bond or other contract in writing secured by a mortgage of real property;