Ohio Makes Significant Changes to State Contract Law
March 18, 2021
On March 16, 2021, Governor Mike DeWine signed a new law that will have a significant impact on contracts governed by Ohio law. Among other things, the law shortens the statute of limitations to bring actions based on written contracts from eight years to six years, and expands the current law’s exceptions to this limitations period. It also shortens from six to four years the statute of limitations to bring actions based on oral contracts. The new law will go into effect 90 days from the date of signing. Anyone who is currently engaged, or is planning to engage, in contractual matters will likely be affected by these new rules and should be familiar with them.
If you have questions, our attorneys are well equipped to assist you in your contractual endeavors. For more information about Senate Bill 13, go to: https://www.legislature.ohio.gov/legislation/legislation-summary?id=GA133-SB-13