Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Business groups back cutting contract statute-of-limitations to three years for written deals
Summary
Kevin Schimp of the Ohio Chamber of Commerce testified that Senate Bill 157 would lower the statute of limitations to two years for oral contracts and three years for written contracts to bring faster resolution and reduce business costs.
Kevin Schimp, testifying for the Ohio Chamber of Commerce, and Michael Farley of the Ohio Insurance Institute both urged the committee to support Senate Bill 157, saying shorter limitations periods will bring faster resolution of contract disputes and reduce costs for businesses.
"This reduced period of time to bring contract claims will bolster Ohio's business climate," Kevin Schimp said, describing the bill's reduction to two years for…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
