COLUMBUS — The Ohio House shortened the period of limitations for lawsuits regarding a written agreements, contracts or promises.
Under current law, a party has up to 15 years after a cause of action, the longest period in the nation, to file a lawsuit for breach of written contract. S.B. 224 ,which lawmakers passed unanimously on Thursday, reduces the time to eight years. In 40 states, as well as the District of Columbia, the period in which to file a lawsuit for breach of written contract is six years or less.
“This law has dated back to the days of early statehood, when businesses and consumers moved at a much slower pace,” Speaker William Batchelder, R-District 69, said. “Obviously the speed at which industry moves has increased rapidly since then, and S.B. 224 brings Ohio more in line with today’s fast-paced world.”
The bill will be sent to Gov. John Kasich for his consideration.