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 language of sections 2305.06 and 2305.07, effectively replacing the previous statute of limitations with the newly established time frames. The bill maintains certain exceptions for specific types of actions, such as those arising from consumer transactions, which still have a six-year limit for filing. Overall, the proposed amendments reflect a significant reduction in the time allowed for parties to initiate legal action based on contractual agreements.

Statutes affected:
As Introduced: 2305.06, 2305.07