Open Accounts : 3 years
28-3-105. Property tort actions - Statutory liabilities.
THE FOLLOWING TENNESSEE STATUTE APPEARS TO ALLOW RE-AGING FOR A WRITTEN CONTRACT IF PAYMENT ON ACCOUNT IS BY A SIGNED CHECK
101. Writing required for action.
(b) (1) No action shall be brought against a lender or creditor upon any promise or commitment to lend money or to extend credit, or upon any promise or commitment to alter, amend, renew, extend or otherwise modify or supplement any written promise, agreement or commitment to lend money or extend credit, unless the promise or agreement, upon which such action shall be brought, or some memorandum or note thereof, shall be in writing and signed by the lender or creditor, or some other person lawfully authorized by such lender or creditor.
(2) A promise or commitment described in subdivision (b)(1) need not be signed by the lender or creditor, if such promise or commitment is in the form of a promissory note or other writing that describes the credit or loan and that by its terms:
(A) Is intended by the parties to be signed by the debtor but not by the lender or creditor;
(B) Has actually been signed by the debtor; and
(C) Delivery of which has been accepted by the lender or creditor.
(c) For purposes of this section, a writing, or some memorandum or note thereof, includes a record.
CAUSE OF ACTION
28-1-102. Commencement at time of right to make demand.
When a right exists, but a demand is necessary to entitle the party to an action, the limitation commences from the time the plaintiff's right to make the demand was completed, and not from the date of the demand.
TENNESSEE CONSUMER PROTECTION STATUTES
TENNESSEE LEGAL CONSUMER PROTECTION DIGEST
Explanation of why an open ended credit card agreement is NOT a "contract" and is therefore NOT included in the "6 year contract" SOL