On September 28, 2012, Ohio Senate Bill 224 became effective and
reduced the statute of limitations period for written contracts
from 15 years to 8 years. This new law applies retroactively
to causes of action which accrued prior to September 28, 2012, and
provides that "an action upon a specialty or an agreement,
contract, or promise in writing shall be brought within eight years
after the cause of action accrued." See Ohio Rev. Code §
This new law,
however, does not alter the six-year statute of limitations
applicable to promissory notes or the four-year statute of
limitations applicable to contracts for the sale of goods. Ohio
Rev. Code §§ 1303.16 and 1302.98.
statutes of limitations are enacted to ensure that plaintiffs
pursue legal action with reasonable diligence and protect
defendants from having to disprove a stale claim.
Historically, Ohio had one of the longest statutes of limitations
for written contracts in the country. Because Ohio's
statute of limitations period for written contracts has almost been
cut in half, all parties to a contract must re-evaluate the manner
in which they assess potential causes of actions in order to
ensure that all claims are prosecuted in a timely manner.
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