❌ SB157
Reduce statute of limitations for contract actions
Current Status: In Senate Committee (Judiciary)
Summary
This bill amends sections 2305.06 and 2305.07 of the Revised Code to reduce the statute of limitations for bringing actions upon written contracts from six years to three years, and for oral contracts from four years to two years. It also specifies the accrual of causes of action for consumer transactions. Existing sections are repealed.
Rationale
The bill's reduction of the statute of limitations may limit individuals' ability to seek redress for contract disputes, which could conflict with the Libertarian principles of personal rights and property rights. However, it does not impose new restrictions on contracts themselves, leading to a mixed alignment with both platforms.
Risks and Concerns
- Potentially limits individuals' rights to seek legal recourse.
- May disproportionately affect those with less access to legal resources.