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Does anyone have a link for VA law SOL?

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Hey all....i'm in a battle with cap1 and the attorneys are convinced that the SOL in VA is 5 years for a credit card. If anyone has any links for VA law or case law that i can send these guys that shows it is in fact three years I would really appreciate it.


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Virginia Statutes of Limitation

Open account: 3 years from the last payment or last charge for goods or services rendered on the account.

Written contracts (non-UCC): 5 years.

Sale of goods under the UCC: 4 years.

Virginia Judgments: 10 years, and renewable (extended) to 20 years.

Foreign judgments: 10 years.

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There is a catch-all two year provision for SOL in VA and at least one legal writer is convinced that's what applies to Cap1 credit cards ...

Open Account

Practice Commentary

One of the unanswered questions in Virginia law is what is the limitation for an open account, two or three years? A logical starting point is to define an open account. Unfortunately the term is not clearly defined in Virginia law. A federal Ninth Circuit case, defines an open account as:

An account which has not been finally settled or closed, but is still running or open to future adjustment or liquidation. Open account, in legal as well as in ordinary language, means an indebtedness subject to future adjustment, and which may be reduced or modified by proof.

Pacific Micronesian Lines, Inc., v. New Zealand Insurance Company, Ltd., 366 F. 2d 333 9th Circuit (1966)

Virginia Code § 8.01-246 sets forth the limitation for a contract in writing and signed by the party as five years and three years for an unwritten contract, expressed or implied. There is no reference in this statute to the limitation for an open account.

Of the statutes that deal with the accrual time for limitations only § 8.01-249 specifically addresses an open account. See paragraph 8. In actions on an open account, from the later of the last payment or last charge for goods or services rendered on the account.

Since the legislature has carved out a specific accrual time for an open account, it can be argued that it is not simply a common law unwritten contract. If so, since § 8.01-249 is silent as to the limitation for an open account then you look to the limitation catchall statute, § 8.01-248, and use the 2-year limitation.

This is from a practice manual for Virginia.

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