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 actions upon a written contract from six years to three years, and for actions upon an oral contract 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 sections 2305.06 and 2305.07, effectively replacing them with the newly amended provisions. The bill maintains certain exceptions for specific types of actions, such as those arising from consumer transactions, which still have a six-year statute of limitations. Overall, the proposed changes reflect a significant reduction in the time allowed for individuals to bring forth contract-related legal actions.

Statutes affected:
As Introduced: 2305.06, 2305.07