Debt Collection Statute of limitations, Slides of Private law

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STATUTE OF LIMITATIONS ae ite) Uc \ a os aay ORAL AGREEMENT WRITTEN CONTRACTS Non-written agreements which Majority of written contracts fall under this cate can be verbal contractsand hand gory There is a fixed debt amount and defined shake agreements between parties. _ terms for repayment.car loans, personal loans, and medical debt typically fall under this category. ~ Kaa % OPEN ENDED ACCOUNTS Written agreement where you can borrow and mu Ree repay,and borrow and repay up toa certain limit Written contract, typically between two at certain interest rates, by a certain date and individuals or between an individual time. Revolving credit like credit cards and other 4d an organization that outlines forms of open credit lines fall into this category P@yment schedules and interest rates.