The bill amends sections 2305.06 and 2305.07 of the Revised Code to reduce the statute of limitations for bringing actions based on written and oral contracts. Specifically, it changes the time frame for filing a lawsuit on a written contract from six years to three years, and for oral contracts from four years to two years. These changes aim to streamline the legal process and encourage timely resolution of contract disputes.

Additionally, the bill repeals the existing versions of sections 2305.06 and 2305.07, effectively replacing them with the newly amended language. The bill maintains the six-year statute of limitations for actions arising from consumer transactions primarily for personal, family, or household purposes, ensuring that consumers still have a reasonable time frame to seek legal recourse in such cases.

Statutes affected:
As Introduced: 2305.06, 2305.07